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US sheet steel producers firming up prices: sources

US sheet steel producers continued to firm up the top end of their price ranges Friday despite formal increase announcements. 

One mill source said hot-rolled prices appear to be solidifying around $680/st, while cold-rolled is gelling at $790/st. Occasional cold-rolled deals in competitive situations are going for as low as $770/st, the source said, but such deals are rare. 

Likewise, some cold-rolled orders are being done in excess of $800/st, but those tend to be situations in which a buyer needs the steel in short order or from a mill with challenging lead times, the source said. 

“When lead times start to go out, if somebody has been holding off on the buy, they’ve got to pay to get it,” the source said.

A second top-tier mill source said his company recently heard a competitor offered 400 st of HRC at $680/st. A third mill source said its competitors are offering HRC around $685-700/st and CRC around $805-820/st. Platts maintained its HRC assessment at $675-685/st and its CRC assessment at $790-805/st. All prices are normalized to a Midwest (Indiana) ex-works basis. 

Source – Platts

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