No slow down seen yet, as prices leap pretty good this week…
HR: Up $11/ton ($0.55/cwt) reaching $747 ($37.35)…highest since summer of 2011
CR: JUMPS $28/ton ($1.40/cwt), getting to $893 ($44.65)
GV: Leaps $18/ton ($0.90/cwt) hitting $951 ($47.55)
Since end of October, the recent low point before things started going up:
HR was at $578/$28.90. So up $169/$8.45 (29% increase)
CR was at $766/$38.30. So up $127/$6.35 (17% increase)
GV was at $834/$41.70, So up 117/$5.85 (14% increase)
So HR has really led the way in increases….Spread between HR FOB Mill at $37.35, and #1 Bushels at $17.85, is $19.50…..VERY HIGH
Availability of freight carriers continues to be troublesome. Mill lead times have extended as purchasers restock in q1. HR lead times have been reported at 4.95 weeks up from 4.50 weeks last month. Cold roll and coated now at 7 weeks. Several mills quoting $800 per ton on spot orders. However, these mills are sold out on spot.
Finally, it should be an interesting week as we await direction on the section 232 rulings.