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Tue, Dec 18, 2018, 12:57:37 ---- The fact: 38.682.000 visitors done.

Steel Coil Prices surge to 12-month highs
Steel Business Briefing
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Company: Steel Business Briefing, United Kingdom
Attn: Steven Randall

The Steel Index weekly reference prices for steel coil products in the USA have surged to 12-month highs and continue to rise sharply.

Prices for steel coil products in the USA have hit their highest levels for more than a year, according to the latest prices published by The Steel Index. Coil products are used in all sheet steel applications and account for around half of all steel consumed.

The Steel Index reference price for US domestic Hot Rolled Coil - the leading steel price indicator - increased by a further US$38/metric tonne (US$34/short ton) last week to reach US$699/metric tonne ($634/short ton) FOB Midwest mill. This is an increase of US$73/tonne ($66/short ton) or 12% over the past month.

This US Hot Rolled Coil (HRC) reference price is now 24% higher than the 12-month low of US$564/tonne ($512/short ton) recorded only 6 months ago in July 2007. The increases look set to continue, with 81% of respondents to The Steel Index weekly market sentiment survey expecting prices to rise further over the next 3 months.

Steel price volatility like this makes life extremely challenging for steel buyers and sellers, comments Steven Randall, Managing Director of The Steel Index. No-one can risk locking themselves into fixed price contracts any more. Instead they are increasingly turning to the use of indexes in their steel price agreements. A recent survey of our clients revealed that 56% are currently using The Steel Index as a basis for pricing their physical steel transactions."

The Steel Index reference prices for US domestic Cold Reduced and Hot Dipped Galvanised coil products also hit 12-month highs recently, up 17% and 13% respectively over the past 6 months. The story is similar for prices of Chinese steel coil exports to the US and Europe, which have risen by over 25% since July 2007. Coil prices in Western Europe have been slower to follow but are now also rising .



More information

For further information, please contact: Steven Randall +44 20 7645 9414 randall@thesteelindex.com

Steel Business Briefing (SBB) is an independent publisher, dedicated to providing quality news, information and prices to the global steel industry, and offering the most extensive international coverage of any steel publication. It delivers a range of newsletters and reports to your desktop, and also organises industry events around the world. The company was founded six years ago and has been one of the fastest growing publishing businesses in the UK. In a very short time it has become a market leader world-wide. More information on SBB and a free trial of its service are available at http://www.steelbb.com/.

SBB has been following the potential of steel reference prices and associated financial products for over four years since holding its Steel Futures Seminar in London in 2002.

Steven Randall has been involved with the steel industry for over 17 years, working as a management consultant in Europe and North America and as the Director of Corporate Strategy at Corus from 2001-2005. He started The Steel Index in November 2005.




     Tel: +44 20 7645 9414   Fax: +44 207 929 4666
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