Steel pricing uneven, but demand steady: Olympic
May 04, 2012 | 11:37 AM
| Michael Cowden
TORONTO Olympic Steel Inc. reported "choppy" steel prices in the first quarter as increased supply of flat-rolled steel put margins under pressure.
"The first quarter could be characterized as uneven, with most of the quarter under supply-side pricing pressure. This resulted in choppy steel prices and pressured margins, especially in carbon and stainless flat-rolled areas," Olympic Steel president and chief operating officer David Wolfort said during an earnings conference call.
Other Olympic executives noted that the increased supply came from both domestic mills and imports, as high prices in the United States compared with the rest of the world attracted offshore offers.....
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