Domestic Steel Prices on the Rebound

Relative Domestic Prices on the Rebound. After hitting near-record lows in December, domestic steel prices have shown a modest rebound in January after several previously announced domestic price increases have been accepted by the market. Rebar prices in the U.S. in January already have risen $60 a ton, or 13% from December, and are up sharply relative to China and Europe where prices have slightly increased, and vs. Japan where prices have fallen 7%.

Rebar prices were at a 10-year record low vs. Japan in December so the recent surge was expected. Plate prices have risen 12% in January to date, and are up significantly relative to China and Europe. Absolute hot-rolled-coil prices in the U.S. have risen 12% so far for the month, and are up relative to China where prices have increased 4%, and up sharply relative to Europe and Japan where prices have fallen.

Domestic beam prices increased by $40 a ton, or 6.3%, in January, and are up relative to China, Europe, and Japan which have posted increases of 1.7% and 3%, and a decrease of 6.1%, respectively.

Outlook. We believe the increase in domestic prices will continue as U.S. prices begin to play “catch-up” with the rest of the world and approach historical premiums. The upward trend in domestic prices is further supported by depleted inventories, a reduction in imports, and a pickup in exports.

by Michelle Applebaum from thestreet.com

Get the free newsletter

Sign up for news, trends and equipment for sale in the lifting and rigging industry.
By signing up you agree to our Terms of Use and Privacy Policy. You may unsubscribe at any time.

Latest Products For Sale

Type Description
Lifting Products
Chains
1/4" x 800' per drum H.G. Proof Coil Chain Grade 28
Lifting Products
Master Links
3.5" Skookum Alloy Master Links
Lifting Products
Master Links
4" Grade 80 Import Master Links 157T WLL
Lifting Products
Turnbuckles
Chicago Hardware 3/4" X 18" Jaw & Jaw Galv. Turnbuckles
Lifting Products
Blocks
8" Tong Line Sw. Eye RB WLL 3T

News & Articles