US Spot Prices Further Decline in December


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.