In recent weeks at Camden Yards Steel, we have continued to keep tabs on market prices trending upwards in the hot rolled, cold rolled, and hot-dipped galvanized steel categories. It no longer seems to be a question of whether or not the market prices on hot rolled steel will increase. Instead, the question is how high prices will continue to climb before plateauing.
While there are a few skeptics, industry experts believe we are a ways off from seeing a plateau because of several factors including increased lead times by mills, less mill capacity, low market inventories, and more difficult access to foreign material.
Purchasers and purchasing managers, should look too see previous price increases hold and continue to increase market wide as domestic mills are extending lead times by weeks. Lead times are extending due to lack of capacity and the anti-dumping and critical circumstances cases levied by the Department of Commerce on foreign material.
Overall, rolled steel sheet prices are up over 20% since December. The time to hedge against foreseeable increases in flat rolled steel market prices is now. Cost increases levied by the mills are noticeably extending from service centers to distributors and manufacturers.
As always, if you have any questions about flat rolled steel prices, product and material availability, or general market questions, please contact Camden Yards Steel today 1-888-373-9300. Thanks for stopping by!