US sheet price slide seen continuing

Sep 26, 2012 | 04:39 PM | Chris Prentice

Tags  steel, flat-rolled steel, service center, steel distributor, ferrous scrap, SteelBenchmarker, steel sheet prices, Chris Prentice

NEW YORK — U.S. flat-rolled steel prices have fallen this week, and market sources see no immediate end to the slide.

"There’s nothing (the mills) can do to get the order," one Midwest service center source said. "They can’t price it low enough. Any offer anybody gives me right now, I think it’s going to be lower next week."

Spot buyers have noted that short lead times indicate lean order books at the mill, a situation that likely could force mill sales representatives to lower prices in order to book tons.....

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