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

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September 2019 | Steel Forecaster


In slow post-holiday markets prices track the scrap price: International Long Product Market Analysis


US mills have had fierce competition from foreign suppliers. Although up to July imports were running short of the volumes of 2018, the pattern of imports, not least a surge of 10.3% between June and July,

More price falls in the US
After abandoning the fictitious list prices for rebar during the second quarter, US bar mills have watched prices glide down, lacking the support of either demand or expectations of steady scrap prices. Falls in asking prices for imports have opened up a domestic premium to close to $60 per tonne, which could in normal times support more imports, but times are not normal. The post-holiday revival in orders has been feeble and distribution stocks are high so there is no rush to re-order, especially as falling expectations in the scrap trade increase the chances of further price falls. Another round of price cuts by sections mills have underlined that danger. Ordinary beam prices are back to the level of early 2018, $33.75 per cwt ($744 per tonne), and likely to stay at or below that level for now.

Construction spending is highly seasonal,...

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