US sheet pricing continues to creep up on the back of strong demand and still-limited supply, Kallanish learns from market sources.
Kallanish raised its hot-rolled price Monday to $1,450-1,500/short ton and lifted its cold-rolled price to $1,625-1,675/st. All prices are ex-works, domestic mill.
A source at one top-tier mill says the demand picture is likely to remain tight until well into the summer.
“The market is still very much in demand for steel, and customers are beginning to focus their eyes on July, which appears to be a very strong demand month,” he says. “Many OEMs have cancelled their downtime around the Fourth of July due to the need to make more goods.”
Auto producers, in particular, will be in catch-up mode due to the ongoing semiconductor shortage. Several market sources have pointed out that the short-term losses in auto will likely mean a longer build season and cancelled vacations through year-end.
Dan Hilliard USA