Steel prices likely to stay flat: Goncalves

Apr 19, 2012 | 02:00 PM | Corinna Petry

Tags  Metals USA, Lourenco Goncalves, mill capacity, lead times, steel demand, acquisitions, corinna petry

CHICAGO — U.S. steel prices will be "range-bound" during the second quarter, given plentiful capacity in the market and short lead times from domestic producers, according to a leading distributor.

"We continue to see good demand in the vast majority of sectors, and pretty much everywhere throughout the country," Metals USA Holdings Corp. chairman, president and chief executive officer Lourenco Goncalves said during the company’s quarterly earnings conference call Thursday. "We don’t see mills interested in raising prices, and we expect prices to be range-bound during Q2."....

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