Research

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

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February 2019 | North American Steels


Pricing pressure builds for US long products: US Long Product Highlights


There is no doubt that pricing pressure increased over the past month, especially with domestic mills, led by Nucor, announcing in mid-January that they were lowering their spot prices for merchant bars and structural steels by $20 per ton as part of their commitment to “maintaining a relevant published price” considering increases in import and domestic competition.

With fears that US economic growth could ease somewhat over the first quarter and other uncertainties in the marketplace, Fastmarkets AMM research believes that overall prices for US steel long products would come under pressure. The past month has already been challenging with mills stepping down merchant bar and beam pricing and concerns that other long product prices, including perhaps rebar prices, could slip slightly, especially if scrap prices don’t rebound. This comes as US consumer confidence fell for the third consecutive month, the December Architecture Billings Index moving down to 50.4 points and with the economic impact of the 35 day partial...

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