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

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November 2019 | Steel Forecaster

US long steel mills to keep strong margins despite subdued demand: International Long Product Market Analysis

The growth in US apparent consumption of sections fell to 7.6% year on year in January-August compared with 10.3% in the first quarter, we estimate.

US long steel prices continued to move down in October. US domestic rebar prices averaged $670 per tonne in October, down $33 month on month, while wire rod prices lost $50 over the same period to average $656. Despite the fall in prices, lower scrap costs in October allowed rebar mills to maintain their rebar-scrap spreads, we calculate, which averaged at $456 over the month. Beam mills gained $10 in their steel-scrap spreads in October, while weak wire rod markets led to rod mills losing $15 of...


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