Fast Markets Displays Hope Of Stability In Steel Industry
Here is a great article from Robert England in Fastmarkets Editorial. It looks like we have some hope in steel coil stability. Orders keep coming in it looks like we have great days ahead of us. As for steel sales slowing we havent seen it. When July is typically a slow month by historical records The Falcon Steel Company has shown steady growth in sales through July.
US hot-rolled coil price slide nears $43 per cwt
By Robert England – Thursday 21 July Fastmarkets’
Daily steel hot-rolled coil index, fob mill US was calculated at $43.06 per hundredweight ($861.20 per short ton) on Thursday July 21, down by 0.92% from $43.46 per cwt on Wednesday July 20 and up by 0.14% from $43.00 per cwt one week prior.
A fresh input was collected in the distributor sub-index at $43.50 per cwt, representing a mill oer. Inputs were rolled over in the producer and consumer sub-indices due to a lack of liquidity. Additionally, inputs were rolled over in the distributor index to minimize day-to-day volatility. Market overview Spot market activity remained muted while buyers await another round of mill oers, according to market participants. Sources said buyers are keeping their inventories low to avoid potential losses should prices fall from current levels. Lead times are three to four weeks, sources said. Quote of the day “We currently are only buying to cost average and ll existing orders. I believe we have a few more weeks before we hit some kind of bottom,” a Midwest service center source said.
Thanks to Robert and Fastmarkets on this great editorial. Click here for Fastmarkets Online
