Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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September 2018 | North American Steels


US long steel prices remain unchanged despite rise in some import prices: US Long Product Highlights


While Turkish imports are expected to be kept out by the recent doubling of the Section 232 tariffs to 50%, there were still almost 50 thousand tonnes of rebar shipped to the US from Turkey in August according to the license data.

US domestic long product prices flatlined over the past month amid seemingly conflicting market dynamics. Underlying demand remained steady with the ConstructConnect reporting a 4.7% year-on-year increase in construction starts in July in line with the latest American Institute of Architects’ consensus forecast nonresidential construction spending up 4.7% this year and up another 4.0% in 2019. At the same time, there continues to be uncertainty about the future impact of trade protection policies, including the Section 232 and the still ongoing Nafta renegotiations, leading both distributors and their customers to be cautious about building up inventories, especially in the final quarter of the year....

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