American flat product prices dropped again this week; it’s said that the prices is going to reach bottom soon.
With scrap price slowly increasing, many steel mills are starting to refuse the discount requirements. Recently, steel mills have not been very eager for each order because of the reduction in output.
American domestic mills presently quote about US$617~683/ton for HRC stock, a figure which is US$44/ton lower than last week’s; some contract rates are even down to US$594~638/ton, but the overseas HRC prices are nevertheless more competitive.
Besides, American domestic steel mills lately have been quoting US$728~794/ton for CRC stock, US$66/ton lower than last week, so the buyers are not interested in importing CRC.Source:Yieh.com