Flat-rolled steel quotes inch up in steady mart

Apr 10, 2012 | 02:40 PM | Corinna Petry

Tags  hot-rolled sheet, cold-rolled sheet, coated steel, steel prices, mill lead times, Corinna Petry

CHICAGO — Flat-rolled steel producers’ latest round of price hike announcements is slowly gaining traction, with a growing number of service centers reporting buying at $700 per ton ($35 per hundredweight) this week upon returning to their suppliers to place orders.

"That’s how customers buy steel: They ignore the first increase and sit on their hands until the second one comes, and that gets them off their duffs. The price is around $700," an eastern Great Lakes distributor told AMM.

A Mississippi Valley buyer agreed, noting firmer spot quotes across the board this week. "$700 is today’s quote. You don’t have to bother to call. You know what it’s going to be," he said.....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results