From Platts report.. By Tom Balcerek | July 15, 2015
Market conditions changing as the supply/ demand real world relationship change.
Good Economics 101 lesson
Sent from my iPad
Long term trend clearly has been falling prices. Sheet steel suppliers in the U.S. are struggling in the face of a 30% price drop from a year ago.
The bellwether sheet product, hot-rolled coil, is selling for about $465 a short ton ex-mill. Yes, that price in mid July was up about $25/short ton from two months ago.
But that contrast with transaction prices around $660/st a year ago.
US sheet mills have filed unfair trade cases against coated sheet imports and many believe dumping and/or subsidy cases against cold-rolled coil imports will soon follow.
With steel prices falling, so too will rail traffic. Both raw materials like iron ore and scrap. As well as finished rolled and flat steel product movements.