Research

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

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March 2019 | North American Steels


March scrap price increases lend support to US long products: US Long Product Highlights


On the back of the $30/ton wide-flange and standard beam products price increase announced in mid-February by Nucor Corp, Gerdau and Steel Dynamics, US beam prices have already moved up to $865/ton from $825/ton a month ago.

The US long products market is poised for at least a modest recovery helped by a combination of solid market fundamentals and rising scrap prices. This has emboldened domestic mills to announce price increases for several long products including rebar, beams and wire rod at a time when there are early indications that construction activity is likely to continue to improve and that the automotive market, while slightly down from its peak, maintains strength. Not only have construction backlogs reportedly stayed strong with the sector only experiencing expected seasonal slowdowns and bidding for the upcoming construction...

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