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

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January 2020 | North American Steels


US HRC prices moving above $600/ton, expected to peak in early Q1 2020: US Flat Product Highlights


When the fourth sheet price increase was announced, domestic HRC prices were around $560-570/ton, having gained around $100/ton since the late October trough, indicating a high acceptance rate for the initial three price hikes by steel buyers.

After repeating their mid-2019 behavior and announcing three price hikes in the space of a month, US steelmakers followed the three price hikes totaling $110/ton with a further two price increases in less than a month. Domestic mills announced a $40/ton price increase in mid-December, followed by a $40/ton increase in early January, boosting the total price increase to $190/ton since November through five consecutive price hike announcements over the course of four months.

When the fourth sheet price increase was announced, domestic HRC prices were around $560-570/ton, having gained around $100/ton since the late October trough, indicating a high acceptance rate for the initial three price hikes by steel buyers. By early January, US HRC prices had improved to around $600/ton, indicating acceptance of the fourth price hike, encouraging mills to announce a fifth price hike on January 8. By mid-January, domestic HRC prices reached...

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