The flat-rolled steel and busheling prices continued to slide in the American market last week; nobody can tell what the rock bottom prices will finally be.

The buyers of busheling are continuing to wait and see because they believe that the price will decline even further. However, many feel that the price won’t keep falling because the current price is near that of the cost. Producers will face great losses if the price falls again.

It terms of flat-rolled, their offers keep on dipping, but very few deals are being signed. Mexico is eager to gain more orders, so, their offer is US$44/ton for CRC lower than their domestic resource. Besides, Russia’s price is similar to Mexico’s. China continually cuts prices in order to make their price more competitive. Up to now, Brazil and India still haven’t quoted.