US sheet pricing held firm last week on the back of growing confidence in July’s price increases, Kallanish learns from market sources.
Kallanish held hot-rolled Monday at $600-630/short ton with cold-rolled at $780-800/st. All prices are ex-works, domestic mill.
“The increases have taken hold, and we are transacting in those ranges,” says a source at one top-tier mill. “A large customer placed an order at $600/st last week; smaller ones at $630/st, and even seeing a couple of $640/st – but not many.”
He adds that lead times are now out to five weeks for hot-rolled and eight weeks for cold-rolled and coated.
A West Coast buyer says $600/st hot-rolled is “...very attainable for small tons.”
“I am seeing a hair below that number for September rollings,” he says. “The mills were aiming for $640/st, but that never took hold.”
At least one source, however, says $580/st hot-rolled is still common in his market, and a second characterizes the firmness last week as a negative rather than a positive.
“Still the same, with hardly any increase movement on the demand side,” he says. “Mills are trying hard to make the second increase stick. Not yet, but maybe upcoming.”