MEPS: US steel sellers offer "huge" discounts, the market is unstable

In an attempt to sell anything, American steel sellers are offering their customers huge discounts, challenging claims that US steel prices have bottomed out.

There is so much free capacity in the American metallurgical industry today that any, the most complex order, is completed in less than three weeks.

Despite the introduction of anti-dumping duties and other prohibitive measures, proposals on imports are only increasing. Under these conditions, a 4 percent discount on the price of cold rolled coils has become the norm.

MEPS noted that while metal service centers in the US are reporting acceptable sales levels, market demand is weakening primarily due to the seasonal downturn in the construction industry.

The decline in scrap prices has had a major impact on the prices of reinforcing steel.

Given the approaching cold weather, the MEPS did not rule out a further drop in steel prices in the United States.