As prices of oil and energy are soaring sharply, America’s steel price remained high in May. In May, hot rolled coil price increased by US$170/ton to US$1,020/ton; cold rolled steel price rose by US$174/ton to US$1,103/ton. Besides, the price of hot-dipped galvanized steel sheet increased by US$175/ton to US$1,181/ton.

Furthermore, American POSCO Industry Co., Ltd. has announced that its cold rolled sheet price will increase in July and August. Also, Nucor Co. Ltd. is said to consider hiking its flat steel price.

On the other hand, the price of steel rebar is expected increase by US$105/ton to US$867/ton. Also, the price of wire is expected to rise by US$142/ton to US$953/ton.

In EU market, hot rolled steel plate price is predicted to increase by €20/ton to €670/ton. Hot-dip galvanized steel plate price is predicted to increase by €40/ton to €750/ton.