US steel market expects further price decline despite constructive demand: survey

Mills have been trying to hold on to offer levels but as contractual buyers have moved down off contract max tonnages it has created more availability in their order books and spot transaction prices have moved closer to the $1,100/st level.

"We still see good demand in virtually every end-user market," an integrated mill source said.

Integrated mills continued to see strong demand from the auto sector during the second quarter, and some have been able to raise fixed-price contracts for those buyers.