Search Copying and distributing are prohibited without permission of the publisher
Email a friend
  • To include more than one recipient, please separate each email address with a semi-colon ';', to a maximum of 5

  • By submitting this article to a friend we reserve the right to contact them regarding AMM subscriptions. Please ensure you have their consent before giving us their details.

W. Coast flat-rolled steel prices move up

Keywords: Tags  steel, California Steel Industries, USS-Posco Industries, flat-rolled steel, West Coast, Frank Haflich

LOS ANGELES — Flat-rolled steel prices continue to move up on the West Coast, but the continuing role of imports is working to keep the market competitive.

Transaction prices in many cases have risen about $40 to $50 per ton since they bottomed out earlier this year, buyers said in the past week. But they also pointed out that, as far as they’re concerned, "there’s no shortage of steel," and in many cases they still have the option of buying from either domestic or offshore sources.

In the recently announced increases, California Steel Industries Inc., Fontana, Calif., said it would raise prices for hot-rolled, pickled and oiled, and cold-rolled products by $20 per ton ($1 per hundredweight) and galvanized material by $30 per ton ($1.50 per cwt) effective June 28 (, June 28). USS-Posco Industries Inc., Pittsburg, Calif., told customers it would raise hot-rolled pickled and oiled and cold-rolled sheet by $20 per ton and galvanized sheet by $30 per ton, according to sources.

Domestic hot-rolled coil is estimated at $34 to $34.50 per cwt delivered on the West Coast, while the latest offers from such sources as South Korea and New Zealand were reported in a range of $30.50 to $31.50 per cwt for arrival in September or early October.

The latest reported offers from China suggest a cold-rolled coil base of $33.50 to $34 per cwt, about $50 per ton higher than this year’s low point a month or two ago, for material expected to arrive in late October. But market sources said it’s far from clear that this price won’t come down in future negotiations. This is at least $60 to $80 per ton under stated domestic prices, although there are reports that substantial domestic orders could narrow the gap considerably.

Some buyers who purchase material from mills both on the West Coast and east of the Rockies said it’s their impression that supply is relatively tighter in the Midwest than in the West.

"Sure, you can probably find a deal anywhere if you’re looking for one, but that’s less so with the Midwest mills," a buyer said.

A few buyers said they’re still living off import inventory purchased a few months ago, when prices hit bottom. One distributor pointed out that given the pattern of the past few years, he isn’t likely to have much of a requirement for the rest of 2013 after imports ordered in the next few weeks arrive in October.

Have your say
  • All comments are subject to editorial review.
    All fields are compulsory.

Latest Pricing Trends