Steel distributors hold stocks level ahead of hikes
Dec 07, 2011 | 04:16 PM
| Corinna Petry
Tags
serv ice centers,
steel buyers,
flat rolled prices,
demand,
anne riley
CHICAGO — The $40- to $50-per-ton price hikes that a number of steel mills are seeking for hot-rolled, cold-rolled and coated flat products aren’t encouraging service centers to build inventories, despite the fact that many say they are experiencing good order rates.
According to the Institute for Supply Management’s latest Steel Buyers Forum survey, not a single respondent plans to increase inventory levels over the next six months, while more than one-third—36.4 percent—said they plan to decrease stocks in the next six months, up from 30 percent of respondents last month who said they were planning to pare down inventories.....
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