Already on Jan. 12, amm.com reported on rising prices on the US steel market. Here, hot-rolled coil prices reached a 12.5-year high of $1,1114.40 per short ton.
Competing imports may not arrive until the second half of the year
Some sources told amm.com that competing imports may not arrive until the second half of the year. And concern is growing that Section 232 tariffs and quotas could begin to affect U.S. national security.
Automobiles and appliances are gobbling up limited domestic supply
That’s because private industries such as automobiles and appliances are gobbling up so much of the limited domestic supply. But defense and public infrastructure work requires domestically produced steel and cannot be legally sourced through imports.
US steel mills are calling May 2021 delivery dates
One quote caught the eye. In it, a source reports that mills are already calling May 2021 delivery dates. And steel imports are being offered for August and September.
“I doubt relief will come until more capacity is added to the current market and depending on the new administration with Section 232 and quotas,” said a midwestern distributor who does not believe pricing will fall before July shipments. “Some of the mills are into May lead times and importers are quoting August and September. I would think we may start to see some downward movement in the second half, beginning around June/July, but that is just a guess.”
Source: amm.com
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