Key Takeaways
- Hot rolled spot pricing moved higher for the second consecutive week after a brief pause, and zinc reached its highest level since June 2022 while global inventories drained for a fifth straight week, putting coated buyers under pressure from two directions at once.
- Total carbon steel imports fell in June, yet one flat rolled category surged by double digits while another dropped to a level not seen in roughly two decades, and that split changes which negotiating levers still work and which have disappeared entirely.
- Durable goods orders, primary metal orders, and low jobless claims are all validating the current price trajectory, but two figures buried in the consumer data set a limit on how long that support holds.
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Sources
U.S. Steel Import Monitoring and Analysis System
U.S. Census Bureau Advance Report on Durable Goods
U.S. Department of Labor Unemployment Insurance Weekly Claims
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