Flat-rolled prices jump $20 per ton

Dec 09, 2008 | 10:13 AM | Scott Robertson

Increasing prices for steel scrap are beginning to manifest themselves in slight price hikes for flat-rolled products, according to market sources.

Hot-rolled sheet, selling on the spot market for as little as $540 per ton ($27 per hundredweight) just before Thanksgiving, has increased about $20 per ton during the past few days to $560 per ton ($28 per cwt), steel buyers said.

Cold-rolled sheet, likewise, has moved higher on the spot market to around $640 to $650 per ton ($32 to $32.50 per cwt).

The slight bump marks the first time prices have headed north since late July, when hot-rolled sheet reached a peak of close to $1,100 per ton ($55 per cwt) based on what had been strong global demand for steel. The global financial crisis began to cool that demand in August and prices have since plummeted.....

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