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Mar 14, 2023 • 4 tweets • 2 min read
US flat rolled #steel prices spike week-over-week, but how long will it last?
Sources close to #SteelOrbis have confirmed that domestic flat rolled #steelprices have continued to spike in the past 7 days.
The big question relates to how long this uptrend will last.⏬
One source was quick to point out that overall steel demand is lower than it was in 2019. Auto production has not returned to 2019 levels, he said, adding that nonresidential construction is still more than 25% lower that it was in 2019.⏬
Mar 13, 2023 • 4 tweets • 2 min read
Global View on HRC: Prices keep rising gradually, outlook still positive
Prices for hot rolled coils (#HRC) in the major markets have continued to increase, though at a slower pace than recorded in previous weeks. While demand has not improved much in Asia,⏬
most major global HRC suppliers have been counting on a sales expansion to higher-priced destinations. Thus, the import trade has remained rather active in Turkey, with several large lots reported to have been sold from Russia and China.⏬
