West Coast flat-rolled steel outlook dims

Sep 05, 2012 | 05:06 PM | Frank Haflich

Tags  steel, West Coast, California Steel, USS-Posco, U.S. Steel, ArcelorMittal, Frank Haflich

LOS ANGELES — After prices edged up for the past two months, the outlook for flat-rolled steel on the West Coast is turning flat.

As demand remains lackluster, steelmakers’ raw material costs ease and potential strikes at two major domestic steel producers have failed to materialize, some buyers have become convinced that the door is closing on additional price hikes.

Some market sources think domestic steelmakers, including mills east of the Rockies who market their products on the West Coast, might have counted too heavily on a labor stoppage at either ArcelorMittal USA Inc. or U.S. Steel Corp., persuading buyers to shell out more in October and above the additional $30 to $50 per ton they have paid since July. ....





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