June 2009 | Coated Steels
Mills raise base prices: American Market Highlights
Lower service centre stocks provide the main catalyst
Having fallen back in recent months, prices for HDG in the USA seem to be on an upward trend. This comes more as the market seems to be bottoming out rather than because of a return to buying by key end-users. Indeed, as MBR pointed out in the last issue, many buyers have held back from purchases in the expectation of continually lower prices. Mills, by raising their prices this month, seem to be sending out the message that this scenario cannot continue.
In the past month we have seen major domestic mills pushing for higher base prices in response to these rising spot prices, most notably ArcelorMittal which has increased its base prices for HDG 1mm G90, effective from 1 July shipments, to $580/short ton ($640/tonne). This represents a $90/short ton ($99/tonne) increase on month-ago prices. MBR...
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