North American steel market price rises significantly

After hitting a low point in August, the US steel market began to rebound, and the flat product market prices rose sharply in September. At the end of September, the prices of hot rolled steel coil, cold rolled steel plate, hot-dip galvanized sheet and medium plate increased by 121-663, 77-794, 110-827 and 55-606 respectively.

At the end of September, the prices of hot rolled steel coil, cold rolled steel plate and galvanized sheet from the United States increased by 88 US dollars, 60 dollars and 78 dollars respectively to 628 dollars, 821 dollars and 1092 dollars respectively, and the prices of medium and heavy plates remained stable. In September, the initial value of the US manufacturing PMI rose to 53.5 from 53.1 in August, a 20 month high, and the manufacturing output index rose to 53.3 in September from 52.7 in August. With the rapid recovery of the manufacturing industry, the demand for steel is increasing, while the supply is relatively tight, and steel enterprises have raised steel prices. American Iron and steel, a long process steel company, raised the spot price of hot-rolled coil, cold-rolled coil and hot-dip galvanizing by US $60 / short ton on September 14. After the price adjustment, the starting price of hot-rolled coil was 600 US dollars / short ton, and the minimum price of cold-rolled and hot-dip galvanized products was 800 dollars / short ton. Newco steel, an electric arc furnace steel company, also raised the flat steel price by 40 dollars / short ton at the end of August.

However, affected by the election and the uncertainty of the epidemic situation, the sustainability of the strong rebound of the US economy is still in doubt, and there is also great uncertainty about whether the steel market price can continue to rise after the sharp rise.