Steel sheet offers decline as buyers sit out

May 30, 2012 | 04:19 PM | Chris Prentice

Tags  steel sheet, steelbenchmarker, flat-rolled steel, chris prentice

NEW YORK — Steel sheet prices east of the Rockies look poised to weaken again this week as many service center buyers continue to sit out of the marketplace despite lower offers from mills.

"People aren’t confident that (the price) is close to the bottom," one Midwest service center source told AMM, noting that he would buy only small tonnages in a falling market to fill holes in his inventory. "I don’t think a lot of people are buying."....

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