Sheet quotes rise despite scrap fall

Jul 11, 2012 | 02:10 PM | Chris Prentice

Tags  steelbenchmarker

NEW YORK — The recent round of steel sheet price hike announcements has led to higher quotes across the board, though whether the firmer tags will stick in the wake of a significant drop in the benchmark scrap price remains to be seen, market players say.

Supplier and distributor sources told AMM that mill sales representatives appeared to be sticking to the higher quotes for flat-rolled steel products in the days following the announcements, with most hot-rolled band quotes currently ranging from $31.50 to $32 per hundredweight ($630 to $640 per ton). That compares to about $30 per cwt ($600 per ton) or less in the days leading up to the $40-a-ton increase attempts.....

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