SBQ slipping on shrinking scrap prices
Mar 07, 2012 | 05:24 PM
| Corinna Petry
CHICAGO Hot-rolled and cold-finished bar product prices for have shifted into lower geardown about $50 per ton for Marchon the heels of last months 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 arent saying that; they are saying you can get some hot tons into the schedule. They dont want to instill panic because they dont want to reduce (base pricing)."....
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