Steel distributors hopeful for balanced 1st qtr.
Nov 01, 2011 | 01:30 PM
| Frank Haflich
LAS VEGAS Steel distributors predict a continuing scramble for market share amid a seasonal downturn but are hopeful that the market will self-correct by the first quarter.
Members of the Association of Steel Distributors (ASD) pointed out at the groups fall conference in Las Vegas that the seasonal market downturnwhich usually starts in November and Decemberinstead began in October,
Tim Loeffel, vice president and director of purchasing at Loeffel Steel Products Inc., Barrington, Ill., said that flat-rolled steel prices had deteriorated "pretty quickly" by about $40 per ton since mid-Octobera decline being felt in the resale sector, where distributors are jostling to preserve market share. "You will see people reducing their prices (in order) to keep their same business," he said.....
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