US leading way as hot-rolled band prices forge higher

Dec 15, 2010 | 01:49 PM |

U.S. hot-rolled band prices have skyrocketed, riding a wave built on higher scrap prices, additional input costs and a pickup in steel demand—a wave that seems poised to swell further.

"I think it's fair to say that scrap costs have a lot to do with these (sheet price) increases," one Midwest service center source said. "But there is more to it than scrap. Business is a little better. There has been a pickup in demand, although demand is not great. I think some of it is people buying in advance of price increases, but some of it has to be attributed to a little better market, too."

SteelBenchmarker's Dec. 13 report, released Wednesday, pegs prices for U.S. shredded scrap at $384 per tonne delivered, up 10 percent from $349 three weeks earlier; No. 1 heavy at $347 per tonne, up 8.1 percent from $321; and No. 1 busheling at $408 per tonne, up 6.8 percent from $382.....

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