Research

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

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February 2020 | North American Steels


Prices peak and trend lower into February and for the remainder of Q1 2020: US Flat Product Highlights


Domestic CR and HDG prices have followed the general trend in HRC pricing, but with more moderation in pricing declines, reflecting relatively tighter downstream sheet supply.

US flat product prices underperformed our expectations over the past month as the obstacles facing the market overpowered mill pricing momentum. US flat product prices peaked in mid-January, before sliding during the latter half of the month and into early February. US domestic HRC prices gained approximately $155/ton from the late October trough of $463/ton to the mid-January high of $618/ton. Prices have since retreated, with US HRC prices slipping by around $30/ton to $580-590/ton in early February.

Domestic CR and HDG prices have followed the general trend in HRC pricing, but with more moderation in pricing declines, reflecting relatively tighter downstream sheet supply. US CR prices rose $110 from the October trough of $680/ton to the mid-January peak of $790/ton, before sliding $20/ton to $770/ton in early February. Similarly, domestic HDG prices gained $120 from an October low of $765/ton to a January high...

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