Strong Demand: US Steel Prices and Delivery Times Continue to Rise

SEATTLE (Scrap Monster):  Delivery times and prices for steel in the United States continue to rise. In China, inventories of semi-finished steel products have fallen by almost 1 million tonnes since the beginning of September. And the “industrial policy of the turn of the times” from the German Federal Ministry of Economics and Climate Protection shows once again who Robert Habeck’s employer really is.

Strong demand: US steel prices and delivery times continue to rise

US steel producers have raised prices for hot rolled coil (HRC), cold rolled coil (CRC) and hot dipped galvanised. According to market sources, this can be attributed in particular to limited steel availability, delivery times that have increased by almost 20% and strong demand. Last week, Canadian steel mills had already joined the rising price trend in the United States. 

Steel warehouse stocks in China continue to fall significantly

Increasing demand for semi-finished steel products such as HRC, CRC, and Rebar can also be observed in China. In the period from 10 to 20 October 2023 alone, stocks of the most important semi-finished products fell by several hundred thousand tonnes. This continues the rising trend in steel demand in China that had already started at the end of August and continued in September. In September, domestic inventories had already fallen by about 700,000 MT compared to the previous month.

Courtesy: www.steelnews.biz