Hot-roll sheet tags shed $20/T; all eyes on stocks

Dec 20, 2006 | 09:36 AM | Scott Robertson

U.S. spot market prices for carbon hot-rolled sheet have slipped another $20 a ton as producers continue to wait out an inventory correction at the service center level.

Most mills are offering hot-rolled sheet at $540 a ton ($27 per hundredweight), down from $560 a ton ($28 per cwt) previously, market sources said, although there are reports of scattered deals below those levels—in some cases as low as $500 a ton ($25 per cwt).

What once had been a pricing gap between the Big Three U.S. steel producers—Mittal Steel USA Inc., Chicago; U.S. Steel Corp., Pittsburgh; and Nucor Corp., Charlotte, N.C.—and smaller producers has virtually closed, the market sources said.

Nucor remains vigilant about holding prices at slightly higher levels that are closer to the previous number, while Mittal Steel and U.S. Steel, which had been in that range, have dropped down to the $540-a-ton level of the smaller mills, the sources said.....

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