U.S. steel demand continues to slump, coupled with the more abundant supply, and the fourth quarter of flat products price bearish.
local dealer said demand is still sluggish, but is expected before the end of the year to early 2011, the market may rebound. Scrap prices have fallen sharply, buyers started the shopping spree, exacerbating the tight supply situation. Allegedly, the U.S. steel scrap prices drop close to $ 30 / ton to scrap production of hot rolled at competitive prices. In addition, to enter the next year there will be more blast furnace plan maintenance, plan will affect part of the production of a blast furnace maintenance of the Hamilton plant, such as the United States Steel Corporation.
With the domestic market goes down, the price of imports of hot rolled downward trend. International market good in the United States, and thus imports of hot rolled coil and compared to local products are not competitive, a major cause of poor U.S. demand for imports.
U.S. Midwest hot rolled down to about $ 595 / t ex-factory price, the cold volume of $ 744 / t. Indiana steel thermal volume ex-factory price of about U.S. $ 595-617 / t. The spot price drop sheet, hot rolled down to 617-639 U.S. dollars / ton, cold rolled prices fell to 727-772 UWorld Steel Pipe .S. dollars / ton, hot dip galvanized coils 793-838 U World steel pipe network editing .S. dollars / ton.
By the end of September, U.S. steel inventories to 7.53 million short tons, 30 percent higher than last year, equivalent to 2.4 month supply. In September, the U.S. service center steel shipments of 3.17 million tons, up by 23.9%.