US hot rolled steel sheet market price keeps rising

This week, the price of hot rolled steel sheet in the United States exceeded 1400 US dollars per ton, and market participants worried that the price would continue to reach a new high in the future. Hot rolled steel sheet prices have almost doubled in the past six months, mainly because demand exceeds supply. Imports from Europe and Asia are unable to meet the increase in demand.

Steel companies in the United States are not expected to see a price correction. Market supply shortage and strong demand will support prices in the second quarter. Experts believe that the rising price trend of hot rolled steel sheet will continue into the second quarter.

Some dealers even think that the price increase of hot rolled steel sheet will last until July 2021, or even from August to September.

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