Holiday fireworks fail to light up US flats

Posted on 10 July 2018

Source: Kallanish

The US flats market remained relatively subdued over the US Independence Day holiday week, Kallanish hears from market sources.

Plate prices remained static at $900-920/short ton, while hot-rolled sheet stayed at $920-940/st and cold-rolled sheet stayed at $1,000-1,030/st. All prices are ex-works, domestic mill.

"It was fairly slow last week given the Fourth of July holiday mid-week, so not a lot of news to report," says a source at one top-tier mill.

A service centre source says flats pricing is in "limbo" at the moment.

"There isn't anything going on," he says. "No speculative buying, and the tons of the books are either contract or [index] commitments."

A second service center source says the market is still keeping a wary eye on President Donald Trump's 232 tariffs - particularly the ones targeting Mexico and Canada, which are likely to vanish if a new North American Free Trade Agreement deal is hammered out.

"The only thing we're watching right now is Trump and exclusions," he says. "Pretty quiet, otherwise, regarding news." 

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