NLMK USA has announced another increase in base prices for hot-rolled (HRC) and cold-rolled (CRC) steel by $50 per short ton. In a statement to customers, the company said that the new prices take effect immediately, and order fulfillment dates have already been moved to January.
The decision was made against the backdrop of growing demand, active order placement, and extended production schedules.
At the same time, NLMK clarified that prices for galvanized and other coated products will remain at least $150/t higher than base prices for hot-rolled products. This is the second increase in less than three weeks. The company announced the previous increase of $50/t for HRC and CRC on October 24.
Other manufacturers are showing a similar trend. During this period, Nucor raised its spot weekly prices for HRC three times in a row, signaling a general recovery in activity in the US flat steel market.
According to Kallanish on November 13, spot prices for HRC in the US rose to a new range of $830-865 per short ton. At the same time, quotations for cold-rolled products remained stable at $1030-1080 per short ton.
SMU notes that prices for hot-rolled coil in the US averaged $830 per short ton as of Tuesday, November 11, which is $5 higher than a week earlier. This is the highest level in more than three months.
It should be recalled that at the end of September and in October, the global hot-rolled coil market showed opposite trends in the main regions.
European prices rose under the influence of expected trade protection measures. The US market remained stable amid weak demand, while China lowered its prices again due to excess inventories and uncertainty about the recovery of the industry.
