US steelmakers opt for sideways pricing in April, defying speculation. Great Lakes mills settle for a 'strong' sideways move influenced by export activity, with other regions likely to follow suit.
Recent events, such as the Francis Scott Key Bridge collapse, have caused disruptions in supply chains.
Spreads were widening towards the end of March but looks to be slight retreat to start the April.
Midwest uncertainty contrasts with coastal confidence. Discover the latest insights driving steel prices.
The LME aluminum price has overcome an important resistance level at $2,300/mt but it remains to be seen if support can be built above that level.
The international ferrous scrap market may be stabilizing which will likely put pressure on the US domestic market to remain flat or to increase in some areas in April.
Turkish scrap import prices increased for the first time in almost two months.
Prices for pig iron in Brazil have increased despite efforts by U.S.-based buyers to lower them. It has been confirmed that a U.S. buyer has purchased a 55,000 MT cargo, presumably for May shipment, at $430/MT FOB South Brazil.
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