Severstal offering cheap cold-rolled imports

Jul 16, 2013 | 02:41 PM | Catherine Ngai

Tags  cold-rolled coil, Severstal, Gulf Coast, imported steel, steel traders, catherine ngai

NEW YORK — Russia’s OAO Severstal has been offering cold-rolled steel coil into the U.S. market at prices lower than domestic product and even below traditionally competitive Chinese material, several trader and buyer sources told AMM.

Sources pegged offers from the Russian steelmaker into the Philadelphia, Baltimore and Camden, N.J., regions at about $640 per ton ($32 per hundredweight), while offers into the Gulf Coast were closer to $620 per ton ($31 per cwt), a far cry from domestic cold-rolled prices around $750 per ton ($37.50 per cwt) f.o.b. Midwest mill.

The low-priced product being offered is expected to have a September shipment date with delivery in late September or early October, sources familiar with the deals said. The material is being offered by independent trading houses, not by Dearborn, Mich.-based subsidiary Severstal North America Inc., which itself is competing with the offers, sources said.....

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