Sheet prices tumble 4% in wary US steel mart
Sep 13, 2012 | 01:51 PM
| Chris Prentice
CHICAGO U.S. hot-rolled sheet prices lost significant ground this past week, falling nearly 4 percent to $32 per hundredweight ($640 per ton) from $33.25 per cwt ($665 per ton) in the days before ArcelorMittal USA Inc. reached a tentative labor deal with the United Steelworkers union.
Steel prices had been maintaining strength throughout the traditionally slower summer season as the market awaited possible strike action at ArcelorMittal or U.S. Steel Corp., where labor agreements expired Sept. 1. However, with both integrated steelmakers having since successfully negotiated new deals with the USW, sources said the sheet markets recent run-up now has little staying power.....
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.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.