According to Mysteel, U.S. steel prices have continued to decline recently. As of last Friday, U.S. time, the mainstream HRC transaction price was $1,560/ton (9,900 yuan), down $260/ton from the same period last month.
According to a person in charge of an American steel processing center, Mysteel revealed that in January, the United States officially implemented the new EU steel tariff policy, and about 4 million tons of EU-produced steel are exempt from 25% import tariffs every year. Therefore, U.S. end users prefer to purchase lower-priced imported steel first than local resources. At the same time, due to the successful case of steel trade negotiations between Europe and the United States, the relevant departments of the United Kingdom and Japan are also negotiating with the United States on Article 232, and strive to exempt steel import tariffs. Small and multi-batch procurement mode. Stockpiles of steel have remained low since the Christmas holidays.
It is worth noting that although the US steel price is in a weak trend, the profit of steel mills is still considerable, and the production reduction sentiment is not high. The crude steel output remains high, and the capacity utilization rate last week was around 82%. Overall, US steel prices may continue to decline.
Post time: Jan-18-2022