junnan Steel

US hot rolled coil price exceeded $1,000/ton

From: Junnan Steel News
publisher: Gloria Wong
Time: 2018-07-16

    Since June 21, the price of hot rolled coil in the Midwesthas remained above US$1,000/ton (up from US$6/ton to US$1009/ton on July 10).This is the price of US steel, represented by hot rolled coil, has once againexceeded $1,000/ton since October 17, 2008.

    For the reasons for the skyrocketing US steel prices, theindustry believes that: First, the United States imposes a 25% high tariff onimported steel products; secondly, speculation has fueled US steel prices;finally, the US steel market is in strong demand in 2018.

    From the actual effect of the United States on the 25% hightariff on steel products, it hurts the exporting country's steel enterprisesand undermines the global industrial division of labor; on the other hand, italso hurts the downstream users of US steel and reduces its Marketcompetitiveness. The industry generally believes that if theUnited States further imposes high tariffs on automobile products, hundreds ofbillions of Chinese goods, etc., and continues to intensify economic and tradefrictions, I am afraid there will be more cases beyond the expectations of theTrump administration.



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