Olympic’s Wolfort says sheet hikes have gained traction

Aug 09, 2012 | 04:00 PM | Corinna Petry

Tags  Olympic Steel, Mike Siegal, Dave Wolfort, Rick Marabito, outlook, corinna petry

CHICAGO — Olympic Steel Inc. is seeing consistent demand at the start of the second half, although contract orders remain stronger than spot market transactions compared with last year, president and chief operating officer David Wolfort said during a conference call Thursday.

"Our shipping pace improved in the second quarter," he said, citing a 5.9-percent improvement in flat-rolled volume that pushed first-half shipments 1.8 percent higher than a year earlier.

Wolfort said 2012 has been a "nontraditional" year as supply-side pressures pushed pricing down during the latter part of the second quarter and mill prices are moving up in the second half. ....

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