Steel import tag fall fails to stir buyers’ interest

Dec 05, 2008 | 11:50 AM | Maria Guzzo

Prices of imported steel products into the port of Houston are dropping, but customers aren't taking the bait.

"There are plenty of offers out there, but no takers," one trader said. "(The) imported hot-rolled coil price is probably in the $500 (a ton) range, but even at $480 nobody's going to buy."

The trader said he had heard reports of domestic coil prices falling below $500 a ton. "I don't know that any (importers) have anything low enough to beat that," he said. "As long as people believe prices will continue to fall, they'll continue to delay buying material."....

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