While the cost of steel beams in the United States has continued to hold steady, slow demand and weakening raw material costs could prompt an official mill price decrease next month, sources told Fastmarkets AMM.
Fastmarkets' price assessment for domestic W8x8 beams has remained at $43.25 per cwt ($865 per short ton) fob mill since late February, after that month's mill increases were passed through to the marketplace without resistance. At the same time, the price for imported beams retreated to $780-790 per ton ($39-39.50 per cwt) delivered duty paid Port of Houston on Thursday April 25, down from the March 28 assessment of $790-810 per ton.Downward pressure mountingThe US market could see a price decrease announced by domestic producers next month if current trends continue, sources said. "If scrap goes down in May, we might see a decrease... There isn't enough demand...