Despite the recent both US Steel and AK Steel have plan to cut the production, but it still has to take some days to shut down the furnaces and related steel making and rolling equipment, so the market is generally considered the short term product cutting plan is hard to obviously improve the market’s supply and demand situation. The tense cash flow in steel market also press the steel price, the price has space to down again.

This week, the hot rolled steel ex-work prices of US Midwest mills are USD400-420 / short ton, cold roll steel plate ex-factory base prices are USD530-550 / short ton which were unchanged from last week. Some market participants pessimistic believe that by the end of November US hot rolled coil spot prices could fall to USD 350-360 / short ton.

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