SBQ slipping on shrinking scrap prices

Mar 07, 2012 | 05:24 PM | Corinna Petry

Tags  special bar quality steel, SBQ prices, scrap prices, Corinna Petry

CHICAGO — Hot-rolled and cold-finished bar product prices for have shifted into lower gear—down about $50 per ton for March—on the heels of last month’s price drop for No. 1 busheling scrap.

Cold finishers, processors and distributors said customers are busy using steel, but producers have been seeking orders.

"We are busy, but our (inventory) turns have slowed. The mills are not as busy. You can get in (an order) anywhere and get it quickly," an Ohio Valley buyer of special bar quality (SBQ) product said.

"We are seeing the same thing," a sales executive for a Great Lakes company said. "The mills were completely booked, but now you see holes. They aren’t saying that; they are saying you can get some hot tons into the schedule. They don’t want to instill panic because they don’t want to reduce (base pricing)."....

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