According to a report issued by Deutsche Bank analyst Mr David Martin, prices for steel hot rolled coil in the US are forecast to slump in 2009 after spiking upward in 2008 as shipments to outside customers also fall in the year to come.
Deutsche forecasts US HRC prices to fall by 32% to an estimated USD 643 per tonne in 2009 after climbing 62% to an estimated USD 946 per tonne for 2008 from USD 585 per tonne in 2007. After a blip upward in 2010 to an estimated USD 676 per tonne, prices will trend downward in the long term, as low as an estimated USD 525 in 2013.