US Spot Prices Further Decline in December

2015-01-14

As the imbalances in supply and demand continued to impact steel markets negatively, United States spot prices continued their decline in December.

With TSI’s daily index of FOB $603 a short ton Midwest Mill at the end of the month, US HR coil prices fell to a 12-month low in December.

Despite US Steel announcing its intention to enforce its recent price hike immediately, buyers seemed unperturbed and deals concluded lower as prices lurched closer to $600 a short ton.

As with November, market activity unsurprisingly quietened last week though it did not prevent prices falling of $5/s. ton on the final day of the month. Of the relatively few deals that taken place, $600 a short ton was a level at which many buyers secured volumes.