Sheet mills mull second hike to solidify first

Jul 25, 2012 | 05:15 PM | Anne Riley

Tags  steel, sheet, price increase, anne riley

NEW YORK — A number of U.S. steel mills are said to be mulling a second sheet price hike after collecting an average of just $20 to $30 of their recent $40-per-ton increase attempt.

"There are rumors of another round of increases coming out. We may as an industry see something officially by the end of the week," a source at one Midwest flat-rolled steel distributor said. "That would be the same approach they typically take: one increase to support the first increase. ... They’re going to fight like dogs to get the net price up."

Mill sources have confirmed to AMM talk of another round of hikes, with AK Steel Corp. chairman, president and chief executive officer James L. Wainscott announcing during an earnings conference call Tuesday that the West Chester, Ohio-based steelmaker was "evaluating another increase" (amm.com, July 24).....




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