Flat-roll steel upward trajectory stalls: buyers
Apr 26, 2012 | 04:08 PM
| Chris Prentice
NEW YORK U.S. steel sheet prices appeared to reverse their upward trend this past week as many purchasers refrained from buying in what they described as a "falling market."
"The marketplace has just started to kind of reverse," one Midwest distributor source said. "What we saw was prices steadily migrate up, and now thats stopped and theyre moving in the opposite direction."
The AMM price for hot-rolled sheet remains unchanged at $34.50 per cwt ($690 per ton) as reported transactions in the weakening market were few and far between this week. A number of steel buyers said they had received quotes of $34 per cwt ($680 per ton), with at least one buyer reportedly booking a small load of hot-rolled sheet at $33 per cwt ($660 per ton).....
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