September 2019 | North American Steels
US steel demand is contracting: Latest Analysis
US mill outages are underway, with more scheduled for Q4 2019, and mills are expected to reduce their conversion of imported slabs to finished products as they attempt to bring supply more in line with lower demand and minimize price declines.
This months key North American steel forecast highlights:
US steelmakers three consecutive sheet price hikes from late June to mid-July totaling $120/ton culminated in rising prices during August. The price increases succeeded in imposing a pricing floor for domestic HRC in late June, and saw US HRC prices climb from a monthly average in June of $545/ton to Augusts monthly average of $592/ton, essentially...
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