Research

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

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October 2019 | North American Steels


Long product prices to continue falling in response to plunging scrap prices: US Long Product Highlights


The Census Bureau reports that US construction spending was down 1.9% year on year in August and down 2.1% in the year to date.

US long product prices have tumbled over the past month and are expected to fall even further in the coming month, partly due to larger than expected consecutive scrap cost declines. Also, lackluster construction spending, softness in the manufacturing sector and growing concerns that US economic growth will continue to decline have been exerting downward pricing pressure upon the market.

The Census Bureau reports that US construction spending was down 1.9% year on year in August and down 2.1% in the year to date. There is concern that non-residential construction activity could fall further...

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