The price for imported flat-rolled steel in the United States continues to follow global markets lower due to mounting concerns about 2019 demand.
But some sources said that prices are likely to rebound when US buyers return to the market after year-end holidays and once world prices stabilize.Prices for Russian and Ukrainian steel exported to Turkey are already trending upward, one East Coast trader said. "That's an indication to me of what's to come globally... So I don't see any crash on [flat-rolled steel] prices. I expect things to be steady."Yet others pointed to a long list of headwinds - a strong US dollar, weak US agriculture exports, falling oil prices and increased domestic steel production - that would continue to drive prices lower."Supply is overshooting a bit and...