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

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October 2019 | North American Steels


Domestic flat product prices to struggle through most of Q4 2019: US Flat Product Highlights


Finished steel import flows continue to recede, largely reflecting declining US prices and demand, but imports of semi-finished steel by domestic steelmakers continues to rise.

US steelmakers’ ambitious pricing moves have been eradicated over the past month as the combination of ample supply, destocking through the supply chain, and weakening end-use demand have erased even the $47/ton gain in HRC pricing we highlighted last month as the net result of mills’ attempt to boost prices by $120/ton at mid-year. Fastmarkets AMM’s US domestic HRC index retreated through September, averaging $557/ton over the month, down from $592/ton in August. Prices continue to falter in early October, with HRC prices slipping to $511/ton in Fastmarkets’ latest assessment.


Domestic CR and HDG prices are also entrenched in the downward trend, though the pace of decline has been slower than for HRC, with declining automotive demand and active destocking by service centers and distributors contributing to additional price declines over the past month. US domestic CR prices fell to...

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