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

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November 2019 | North American Steels


Hikes lift US coil prices the uptrend could be short-lived: US Flat Product Highlights


The US HRC prices lost $65 per ton in October on a monthly average basis, falling by 11.7% month on month, the sharpest fall since June.

Developments in the US flat steel market in October were close to our expectations, with a downtrend across all major product categories for most of the month, but prices picked up at the end of October-early November.

The US HRC prices lost $65 per ton in October on a monthly average basis, falling by 11.7% month on month, the sharpest fall since June. The HRC index started October at $520 per ton, with lead-times averaging three to four weeks, but some were reported as low as two weeks. October developments were similar to what we saw in June, when buyers were reluctant to commit to deals amid the ongoing price downtrend, and the ‘buyers strike’ forced mills who still needed to fill their order books to offer further discounts. By mid-month, buyers could secure HRC in the low $400s for large bookings, dragging the index down to $463 per ton...

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