Beam prices in the United States have retreated in the wake of a round of mill price cuts announced in late April, while market sentiment remains weak overall for much of the country, according to sources.
Fastmarkets AMM's price assessment for domestic W8x8 beams fell by $2 per hundredweight to $41.25 per cwt ($825 per short ton) fob mill on Thursday May 30. That price is down by 4.6% from $43.25 per cwt previously, where the assessment had held since late February, following a round of mill price increases announced that month. At the same time, Fastmarkets' assessment for imported beams remained steady at $780-790 per ton ($39-39.50 per cwt) delivered duty paid Port of Houston after market participants did not report any fresh offers.US market remains in a lullThe domestic beams market is unlikely to see a rebound in demand anytime soon, sources told Fastmarkets. "[There's] no indication there's going to be an uptick in June," according to a northeastern distributor. A midwestern...