The latest round of US sheet price hikes appears to have cemented previous gains, though market sources say it is too early to tell whether the hikes will be absorbed in full.
Kallanish now puts hot-rolled coil at $600-640/short ton, with cold-rolled rising to $800-840/st. All prices are ex-works, domestic mill.
Last week’s $40/st hikes should have boosted mill list prices to the $660-680/st mark, “... but the discussions have just begun,” says a source at one top-tier mill.
He adds that European prices appear also to be heading higher, signalling strength in the market at-large.
A West Coast buyer says he is seeing higher mill prices but also experiencing pushback from his customers at the service centre level.
“The mills are pushing the numbers,” he says. “The key is service centres being able to pass it on.”