Traders Found That The US Market Price Did Not Enjoy a Pick-up

Although the US steel mills announced to lift the price frequently, traders found that the US market price did not enjoy a pick-up. Right now, the US thin sheet price remains stable and the buyers are just purchasing according to the requirement, making the price hard to go up and Taiwanese mills hard to secure orders from US buyers as well. Currently, the cold rolled coil (CRC) and hot rolled coil (HRC) are quoted at US$745~YS$755/ton ex. mill and US$640~US$650/ton ex. mill in the middle and west of U.S. The US local market participants said that the price of CR and HDG would have small chance to go up a little recently which it would be hard for HR. Meanwhile, the Taiwanese mills planned to raise the hot dipped galvanized steel prices by US$20/ton for November shipment, however, the price was not accepted and the exported offer stayed at about US$700/ton FOB. Traders said that mills had informed them US$700/ton FOB had been the bottom price, if the customer required the discount further, they would probably have no choice but to cut the output to reduce the deficit.