Steel sheet falls further in skeptical market

May 10, 2012 | 04:32 PM | Chris Prentice

Tags  steel, flat-rolled sheet, AK Steel Corp., Chris Prentice

NEW YORK — Domestic steel sheet tags slipped again this week as attempts by at least one major mill to increase prices were met with skepticism in the market.

Baseline prices for hot-rolled sheet fell to $33.25 per hundredweight ($665 per ton) f.o.b. mill this week in the Midwest, down from $33.75 per cwt ($675 per ton) last week, mill and consumer sources told AMM. Buyers placing large-volume orders were said to be securing hot-rolled coil prices as low as $32.50 per cwt ($650 per ton), even as smaller tonnages were transacted closer to $33.50 per cwt ($670 per ton).....

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