Due to the price decrease of craps, price of raw material surcharge was declined by 30USD/ton in USA in January. Therefore, U.S. steel mills have to cut down prices of irons.
Nucor Steel Corporation and Commercial Metals Company announced that the rebar base price would increase by $ 15 / short ton, but the actual ex-factory price decreased by 15 U.S. dollars / short ton. However, price offered by small profile bases remains the same, the actual ex-factory prices is cut by 30 U.S. dollars / short ton. For the H-shaped steel, Nucor Steel and Steel Dynamics and the related companies also announced that the base price remains as before, the actual ex-factory price is cut by 30 U.S. dollars / short ton. The present price of rebar is 740 U.S. dollars / short ton, H - beam: 840 U.S. dollars / short ton.
Market participants said that the steel price cut in line with market expectations. Due to the long steel import growth, as well as decrease of scrap price , the long products market to will remain slackin the short term, and it is expected to stabilize rebound in April. From the latest late of importing license data, we can see that U.S. imported 151,000 tons of Spiral steel in January, increased by 226% with chain increase by 131%. The importing quantity in January is 53000 tons, increased by 59% with chain increase 134%.