W. Coast sheet tags hold as April increase fails

Apr 20, 2012 | 03:57 PM | Frank Haflich

Tags  flat-rolled steel, West Coast, CSI, USS-Posco, Frank Haflich

LOS ANGELES — West Coast prices for flat-rolled steel appear to be holding flat for May after a scheduled April hike failed to take hold and regional buyers eye possible oversupply and mill price cutting east of the Rockies.

Fontana, Calif.-based California Steel Industries Inc. (CSI), a producer of hot-rolled, cold-rolled and galvanized sheet, and Pittsburg, Calif.-based USS-Posco Industries, a supplier of cold-rolled and galvanized steel, had scheduled price hikes of at least $30 per ton ($1.50 per hundredweight) for April, according to market sources. However, few buyers said they have actually paid more this month as a result of the hikes or expect to do so in May. ....

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