Key Takeaways

• The latest weekly CSP Hot Rolled increase came in at the smaller end of the spectrum seen since January, and the size of the move matters more than the number itself for what comes next.
• Value-added products absorbed steeper increases than Hot Rolled this round, and the gap between the two reveals where mills see their pricing leverage holding.
• Input costs are doing little to justify higher offers, with one notable exception, and a key steel-consuming sector posted some of its weakest readings in over a decade.

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