Steel sheet prices record small gains

Apr 11, 2012 | 04:11 PM | Chris Prentice

Tags  flat-rolled sheet, hot-rolled sheet, cold-rolled sheet, SteelBenchmarker, chris prentice

NEW YORK — Domestic steel sheet tags have increased slightly this week as mills continue to push for higher prices.

Hot-rolled sheet has increased to about $34.50 per hundredweight ($690 per ton) f.o.b. mill from $34.25 per cwt ($685 per ton) last week, distributor sources told AMM.

The modest increase in transaction prices follows a push earlier this month by a number of domestic mills to raise their baseline price to $36 per cwt ($720 per ton)—a move that sources say has so far fallen short amid low lead times and falling input costs. Some buyers have reported paying as high as $35 per cwt ($700 per ton) when they returned to the market this week (AMM, April 11), but the majority of sales are still between $34 and....

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