Steel sheet prices tumble another week

May 25, 2012 | 10:45 AM | Chris Prentice

Tags  flat-rolled steel, Charles Bradford, Bradford Research, Michelle Applebaum, Steel Market Intelligence, RG Steel LLC

NEW YORK — Flat-rolled steel prices have fallen for a fourth straight week even as news of RG Steel LLC’s plans to idle capacity may offer the market some psychological support.

The spot price for hot-rolled sheet dropped to $32 per hundredweight ($640 per ton) f.o.b. mill this past week, down from $32.75 per cwt ($655 per ton) the week before. Some buyers have been pushing for prices even below $32 per cwt, citing weakening scrap prices and adequate sheet capacity.....

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