US Steel Tuesday announced a $40/nt price increase on all flat rolled steel products effective immediately, but other flats mills have yet to follow suit. This is likely due to the failure of May and June price increase attempts.
Inventories remain heavy and activity remains steady but sources close to SteelOrbis say that it’s not nearly healthy enough to warrant price firming. The summer months are known to be slow for the US domestic steel industry and it’s not believed that any attempts to push prices north will succeed in the immediate future.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US ex-mill spot price | ||||
| HRC | $23-$24 | $507-$529 | $460-$480 | neutral |
| Turkey* | ||||
| HRC | $20-$22 | $441-$485 | $400-$440 | neutral |
| Brazil* | ||||
| HRC | $20-$22 | $441-$485 | $400-$440 | neutral |
| *DDP loaded truck US Gulf Coast ports | ||||