U.S. Steel Coil Prices Regain Upward MomentumApril 30, 2021
U.S. coil prices continue their rapid ascent, according to a report from steel-market analysts at MEPS International Ltd. Domestic hot-rolled coil prices now exceed $1400/short ton. Supply from the steel mills has improved slightly, with the latest capacity utilization figure reported at 78.4 percent. Producers are catching up on order backlogs. However, buyers still struggle to replenish their inventories.
Spot availability of hot-rolled coil remains poor, the analysts find, and with mill shutdowns scheduled for the summer the situation may worsen. Demand from the automotive sector continues to exert pressure on steel supply, and activity in the construction segment, including residential and commercial buildings, continues to increase.
The scenario is different for long products. Prices remained firm this month, with demand stable and inventories reported as adequate.
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