Steelflation Grips U.S. As Flat-Rolled Prices Jump
Steel buyers who had been patient before the holidays were paying the price of inactivity as they forayed into the US steel market Wednesday, concluding deals at least $30/st higher for hot-rolled coil and $20/st more for cold-rolled coil. The Platts assessment of HRC increased 6.2% to a midpoint of $600/st ex-works Indiana--even as several mills announced further price hikes for March orders, and still some late February bookings.
The price of CRC also increased, by 3.1% to a midpoint of $670/st ex-works Indiana.