January 2011 | Coated Steels
US HDG prices keep on rising: American Market Highlights
The big question for US coated steels is how high prices can go.
The US HDG price increase announcements keep on coming. The latest round, led once again by Nucor, would, if fully accepted by the market, increase HDG prices another $60/s.ton to about $1,000/s.ton (base price plus a G-90 coating weight on 1-millimeter thick material). MBR believes that this increase, based on surges in scrap, iron ore and metallurgical coal costs, as well as, to a lesser degree, increased demand for galvanized steels, is almost certain to stick. In fact, it is likely that more price hikes will be coming in the next month or so – not just by East Coast and Midwest mills, but by West Coast steelmakers as well.
Highlighting the likelihood of further price increases was ArcelorMittal USA’s decision to not extend...
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