Metals activity steady, but demand said rising

Dec 02, 2010 | 01:13 PM | Corinna Petry

Steel activity in the manufacturing-intensive districts of the Federal Reserve Bank system remained steady over the past two months, as inventories stayed lean amid rising prices.

But metal fabricators see demand rising and are also lifting prices, according to the Fed's Beige Book released Wednesday.

Bankers in each of the 12 districts poll companies across a wide swath of industries and use the data in considering monetary policy.

In the Cleveland district, steel producers and service centers reported volumes were either flat or improving, with shipments being driven by energy-related, auto and heavy-equipment industries, the Fed said.....

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