US import HDG stable after last week’s jump

In our last repot a week ago, SteelOrbis noted import HDG prices jumped notably, week-over-week, adding that pricing for both products had risen by more than $20 cwt. ($441/mt or $400/nt) since mid-August 2020. This week, however, pricing seems to have leveled.

Buyers say they remain wary of booking significant tonnage at current price points, adding that “what comes up must come down.  Prices are off the charts right now, and once the market corrects, whoever is holding a lot of high-price inventory stands to lose a lot of money.”