West Coast flat-rolled steel prices tumble

Sep 28, 2012 | 04:03 PM | Frank Haflich

Tags  steel, flat-rolled, cold-rolled, hot-rolled, West Coast, California Steel Industries, USS-Posco, South Korea China. Frank Haflich

LOS ANGELES — Flat-rolled steel prices have fallen by $30 per ton or more on the West Coast for some buyers over the past three to four weeks, and sources say they see little sign of a pickup in the coming month.

The two major producers in this region—Fontana, Calif.-based California Steel Industries Inc. and Pittsburg, Calif.-based USS-Posco Industries Inc.—have not formally announced new prices, sources said.However, market participants said hot-rolled coil prices for large or established customers on the West Coast, produced either locally or east of the Rockies, have fallen to an estimated $660 to $680 per ton ($33 to 34 per hundredweight) delivered. That’s down from about $700 to $720 per....

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