Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in the United States - 2024

Contents:

1. Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in the United States (CIF) - 2024
2. Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in the United States (FOB) - 2024
3. Imports of Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in the United States
4. Exports of Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in the United States

Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in the United States (CIF) - 2024

The average import price for steel, alloy stood at $921 per ton in December 2023, growing by 4% against the previous month. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in May 2023 an increase of 5.3% m-o-m. Over the period under review, average import prices reached the peak figure at $1,069 per ton in June 2023; however, from July 2023 to December 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Finland ($1,231 per ton), while the price for Sweden ($774 per ton) was amongst the lowest.

From March 2023 to December 2023, the most notable rate of growth in terms of prices was attained by Finland (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in the United States (FOB) - 2024

The average export price for steel, alloy stood at $1,174 per ton in December 2023, picking up by 7.6% against the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $1,231 per ton in July 2023; afterwards, it flattened through to December 2023.

Average prices varied noticeably for the major foreign markets. In December 2023, the country with the highest price was Mexico ($1,201 per ton), while the average price for exports to Canada stood at $1,100 per ton.

From March 2023 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+0.2%).

Imports of Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in the United States

Imports of steel, alloy into the United States contracted markedly to 585K tons in 2022, which is down by -20% against the previous year. In general, imports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2021 when imports increased by 135% against the previous year. As a result, imports reached the peak of 732K tons, and then dropped markedly in the following year.

In value terms, imports of steel, alloy stood at $727M in 2022. Over the period under review, imports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 211%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Top Suppliers of Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils to the United States in 2022:

1. Canada (301.8K tons)
2. Netherlands (86.0K tons)
3. Sweden (67.4K tons)
4. Germany (40.7K tons)
5. France (25.2K tons)
6. Japan (22.7K tons)
7. South Korea (13.3K tons)
8. China (7.4K tons)

Exports of Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils in the United States

In 2022, approx. 167K tons of steel, alloy were exported from the United States; with a decrease of -23.5% against 2021 figures. Over the period under review, exports saw a drastic downturn. The growth pace was the most rapid in 2021 when exports increased by 28% against the previous year. As a result, the exports reached the peak of 218K tons, and then contracted notably in the following year.

In value terms, exports of steel, alloy contracted to $216M in 2022. In general, total exports indicated a temperate increase from 2019 to 2022: its value increased at an average annual rate of +3.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +40.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 62%. As a result, the exports reached the peak of $250M, and then reduced in the following year.

Top Export Markets for Steel, Alloy; Flat-Rolled, Width 600mm or More, Hot-Rolled, in Coils from the United States in 2022:

1. Mexico (112.2K tons)
2. Canada (53.5K tons)

Source: IndexBox Market Intelligence Platform