US WFB spots finally firm to published prices

Friday, 28 September 2012 23:42:36 (GMT+3)   |  
       

Although US domestic wide flange beam (WFB) spot prices have lagged behind monthly price moves since July, sources tell SteelOrbis that most major discounting has been cleaned up, and spot prices, for the most part, have finally reached the published range.  The $2.50 cwt. ($55/mt or $50/nt) increase announced for September shipments didn't go through, followed so closely by a $1.40 cwt. ($31/mt or $28/nt) decrease effective immediately mid-month.  But since then, mills have reportedly been aggressive about getting published prices, and most spot prices are now at $38.75 cwt. ($854/mt or $775/nt) ex-mill (for ASTM A992, W10 x 10, W18 x 6, and W24 x 7).  Previously, smaller distributors reported buying from large distributors at or below mill prices, but now even the largest distributors are offering beams to small distributors and end-users at $2.00-$3.00 cwt. ($44-$66/mt or $40-$60/nt) above the published mill range.

However, as shredded scrap prices are predicted to fall next month, sources expect US mills to drop beam prices in line with scrap.  As such, most US beam buyers are not very interested in imported material, which still hovers above domestic pricing.  Currently, traders report that import offers are more or less the same from last month, but the neutral trend is more attributed to a general lack of inquiries than market trends overseas.  As such, offer prices from Korea and Spain still range from $39.00-$41.00 cwt. ($860-$904/mt or $780-$820/nt), DDP loaded truck in Gulf Coast ports.


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