February 2011 | Welded steel tube & pipe
Scrap prices begin to decline as pipe producers look to recover costs: Americas Market Analysis
Domestic US HR coil prices are now hovering around $880-900/ton for late-March/early April shipments.
As anticipated last month, US scrap prices declined into February, with prices down $15-30/l.ton depending on location and seasonal factors. Late in February, however, a warmer weather pattern over the Midwest and Northeast portions of the country is easing the backlog of scrap supplies. We understand that a number of mills are now well-supplied for the month and even in a position of being overbought, which will undermine scrap prices going into March.
Nevertheless, flat-rolled steel mills are attempting to hold onto price gains made in the past three months. Domestic US HR coil prices are now hovering around $880-900/ton for late-March/early April shipments. We understand that much of March is sold out, but some mills still have a few days left of March in which to sell out material. MBR believes, however, that a pullback in demand will end the upward momentum in pricing and a softening...
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