In the United States, prices for cold-rolled coil and sheet and galvanized steel sheet have risen last week (16 July, 2021) to an all-time high of over $100 per cwt. And in South America, flat steel imports are becoming increasingly expensive due to high freight rates and significantly increased Chinese steel prices.
US CRC prices up approx. 226% since August 2020
US CRC prices just keep skyrocketing, source told us. Steel sheets – like cold rolled and galvanized steel sheet – have reached new records as they climb past the $100 per hundredweight ($2,000 per short ton) milestone. Prices are now up nearly 226% after falling to their 2020 low of $31 per cwt in August.
South American flat steel imports becoming more expensive
Due to rising freight costs for Chinese exports, South American flat steel imports are becoming increasingly expensive. This is causing liquidity problems.
Shortage of ships and containers
A shortage of ships and containers is causing volatility in freight rates. South American customers have also had to cope with export tax changes in China, which have already had a strong impact on prices.
South American traders are therefore currently facing greater challenges in securing supplies of flat steel.
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We at the Gerber Group have been trading in stainless steel worldwide for over 20 years. We are your experts when it comes to purchasing, import, logistics and services. Information is a vital part of this. Because only then can you and we make the right decisions. Do you have any questions? Contact us now.
Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.