Hot Roll Prices in The United States Continued To Fall Sharply

On June 8, the Midwest hot volume price index was 1024. [] $9 / ton, down 52. [] $9 / ton, the new low since February 21 this year; [] The volume price index on June 7,1034. [] $2 / ton, down 46. [] $3 / ton. According to the Midwest market news, the Midwest hot volume market overall continuation of relatively light situation, buyers purchase, general purchase quantity to ensure the use of a month of demand, rather than a purchase months use demand, although the greater the purchase the discount is bigger, and some steel service center also continue to keep low hot coil inventory. Market participants revealed that some steel mills in June scrap steel bidding price significantly reduced by $60 / long ton (59. [] $06 / ton), indicating that steel mills are not optimistic about the hot coil price in the future. The price of hot rolls in the southern United States has been declining for 9 consecutive weeks. On June 7, the price and valuation range are from 45- $49 / American (992. [] 3-1080. [] $5 / ton). A dealer said that the current steel mills hot coil signing situation is generally poor, some steel mills new orders have been shortened to 3 weeks, and some market participants expect the bottom price of hot coil in the region at around $40 / American ($882 / ton).