Steel Import Appetite Slows in the U.S.

From Oilprice.com

U.S. steel prices continued to soften throughout September as they entered Q4 in search of a new low. Based on their October 3 close, HRC prices have now unraveled $80/st from their late March peak, leaving them sitting at their lowest level since February. 

While they remained somewhat slow, the second and third quarters showed largely steady bearish momentum across the flat rolled steel category. Once tariffs took effect, buyers backed away from the market immediately. Meanwhile, strategic purchasing efforts left the market well-stocked as mills ramped up their production.