Steel sheet prices fall, mart seen near bottom
Oct 03, 2012 | 02:33 PM
| Chris Prentice
Tags
steel sheet,
steel prices,
flat-rolled steel,
hot-rolled coil,
ferrous scrap,
Chris Prentice
NEW YORK — Domestic hot-rolled steel prices continue to fall, with sources reporting lower sales quotes and limited transactions.
"There’s definitely a slide," one Midwest service center source said. "Demand is steady. (But) consumer confidence is low."
Mills were said to be chasing orders, lowering their quotes by at least 50 cents per hundredweight ($10 per ton), as some service centers reported transactions. However, most said they were continuing to hold off on buying, expecting the market to slide further.
"People are scattering for a little bit of market share," according to one East Coast manufacturer.
Average prices for hot-rolled sheet slid to $30.50 per cwt ($610 per ton) f.o.b. Midwest mill, from $31 per cwt ($620 per ton) previously, as service centers reported limited activity and a wait-and-see mentality.....
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