The price of benchmark hot rolled steel has fallen 19% since April.
Since the market hit bottom in late December, the price of a ton of hot-rolled steel has risen by more than 50% (see chart).
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Antidumping duties on magnesium, polyvinyl chloride, and hot-rolled steel, for example, may please upstream, petitioning domestic producers, who can subsequently raise their prices and reap greater profits.
Knowing nothing about how to move steel, Shnaider hung out at Ukrainian mills and made deals with desperate managers, providing everything from VCRs to dining room sets in exchange for hot-rolled steel.
Antidumping duties on magnesium, polyvinyl chloride, and hot-rolled steel, for example, enable petitioning U.S. companies that often dominate domestic supply of raw materials to foreclose alternative sources and then thrust higher prices on their U.S. customers.
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Last year it produced 3 million tons (3.48 million tonnes) of cold- and hot-rolled sheet steel.
Last year it produced 3 million tons of cold- and hot-rolled sheet steel.
From January to March, prices for hot rolled coil carbon steel rose 25.0%, compared to a 5.0% increase in the same period last year.
Within the steel sector, one company that traders should keep an eye on is Nucor, a producer of about 25 million tons of steel annually, including hot- and cold-rolled steel, steel joists and metal buildings.
It sells hot- and cold-rolled carbon steel to construction companies, steel distributors and service centers and automotive and industrial machinery producers.
If so, the price of hot-rolled coil one of the most common steel products could rise by as much as 15%, on top of the sharp spike in prices seen since 2002 (see chart).
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