Hot-rolled sheet buyers in US prefer to wait as prices slip down

Buyers of Hot rolled sheets in US preferred to be on the sideline due to slipping prices and improved availability.

Hot-rolled sheet is quoted at $695/MT i.e. down from $700/MT previously and some of the market participants expect the decline in the price might continue due to overcapacity and short lead time of about four weeks.

“There’s definitely been some sliding. There are many customers that are pushing for lower pricing. The service centers are trying to hit the bottom of the market”, said a source.