It’s official - we have eclipsed 2008 HRC prices.
One of the Vitards, just broke some HOT information:
https://www.amm.com/Article/3970637/HRC-index-hits-all-time-high-of-58cwt.html
From the article:
Quotes of the day
“Imports are now more attractive even with the longer lead times, and in some cases the lead time is not much longer than domestic,” a Midwest service center source said.
“Service center inventories are not good at all, honestly. Everyone in the South is calling each other trying to spot buy coils - every day,” a consumer source said. “I’m feeling we may not reach the top till April, May now. Demand is so strong. [We] need more supply, and relief isn’t coming anytime soon.”
I’ve said over and over that lead times and domestic supply was non-existent.
I also said this would open the door for imports.
Who’s the biggest manufacturer in the world that could ship to the US from Mexico and Canada?
Who has mills all over the world that is also a vertically integrated manufacturer?
$MT
$MT
$MT
However, a rising tide lifts all boats.
Let’s go!
-Vito
Submitted January 14, 2021 at 11:51PM by vitocorlene https://ift.tt/2Lx0teM
