Research

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

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August 2019 | North American Steels


US coil producers introduced three rounds of price hikes in late June-July: Latest Analysis


A ‘buyers strike’ in previous months, when service centers stayed out of the market, working through their inventory, meant that they were waiting for an opportune moment to come back to the spot market to replenish their stocks preparing for the traditionally busy end-of Q3 period.

This month’s key North American steel forecast highlights:

US coil producers introduced three rounds of price hikes in late June-July targeting $120 per ton gains, not only stopping the price downtrend but also achieving significant ($76 per ton) increases in the spot market. In fact, a rapid rise of HRC prices exceeded our expectations, as the daily index jumped to $597 per ton at the end of July, pushing the July average over 2% higher. CRC and HDG prices fell...

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