Steel imports fall as strike threat clears
Sep 10, 2012 | 04:53 PM
| Catherine Ngai
Tags
flats,
steel traders,
ArcelorMittal,
US Steel,
strike,
cold-rolled,
Port of Houston,
Catherine Ngai
NEW YORK — The recent renewed interest in foreign flat-rolled steel has largely come to an end as falling domestic scrap tags and tentative labor deals at U.S. Steel Corp. and ArcelorMittal USA Inc. put downward pressure on U.S. prices, market sources said.
"It would’ve been nice to have a short-term pop," one trader said of earlier expectations of a strike or lockout and a subsequent price spike.
Market players had speculated that a potential disruption at one of the major steelmakers would have taken capacity offline and helped strengthen U.S. prices for flat products, thereby encouraging lower-priced imports. Some traders had already reported a pickup in inquiries in August, when the threat of a labor disruption at either company was still a possibility (amm.com, Aug. 17). ....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here