January 2012 | North American Steels
Steelmakers enjoy upward pricing momentum: Flat Product Highlights
Domestic mills push for higher prices again in late December and early January.
North American steelmakers are storming into 2012 fueled by higher prices and full order books. Domestic mills initially pushed for higher prices in early November in an attempt to stabilize prices in a declining market. The move was successful, and was followed by a $40-50/ton price increase in early December as buying momentum began to build. In a leading move in late December, AK Steel raised all flat product prices by a further $50/ton effective immediately. In early January, minimills were reportedly boosting prices by $30/ton effective immediately in response to higher scrap prices.
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Steelmakers are enjoying sharply higher purchasing activity as steel buyers seek to both fill holes in their supplies and engage in hedge buying in expectation of further price increases to come. Mills are reporting extending lead times and...
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