Steel sheet prices inch up in wary market

Jul 13, 2012 | 02:48 PM | Chris Prentice

Tags  steel sheet, flat-rolled steel products, U.S. steel mills, chris prentice

NEW YORK — U.S. flat-rolled steel prices inched slightly higher in the past week, though market players said buying activity was limited as many were waiting to see how long the pricing strength would last.

"Not many people have placed orders, but people will have to," one northern service center source said.

For those who did buy in recent days, the price of hot-rolled sheet averaged $31 per hundredweight ($620 per ton) f.o.b. Midwest mill, up from about $30 per cwt ($600 per ton) the week before. Sources reported quotes as high as $32 per cwt ($640 per ton), but there were limited transactions reported in that range. ....

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