US and Canadian Steel producers have been able to increase prices despite a rise in imports according to MEPS. Imports have been fueled by the price differentials between North America and the rest of the world. Prices in some instances are hundreds of dollars more, making exports to North America an attractive prospect to producers around the world. In the past two months imports to North America are up around 20%, although high demand levels have enabled producers to raise prices despite this.
The upward pressure on price is likely to ease with expected increases in domestic supply as two blastfurnaces are due back online soon after a refit.
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