Flat-rolled steel import market said depressed

Oct 23, 2012 | 05:17 PM | Catherine Ngai

Tags  steel traders, hot-rolled sheet, cold-rolled sheet, steel imports, Port of Houston, steel prices, Catherine Ngai

NEW YORK — Depressed demand, oversupply and an uncertain political climate are resulting in a sluggish flat-rolled steel import market, sources told AMM.

"Things aren’t exciting at all. It’s like nothing is going on right now," one trader said. "There’s too much steel in the markets, and we’re getting to the end of the year so people want to get rid of inventory."

A number of U.S. mills last week raised tags $40 per ton in a bid to lift margins (amm.com, Oct. 17). Rising U.S. prices would typically drive more consumers and distributors to look overseas, but in today’s uncertain environment buying domestic still seems like the best option, various purchasing sources said.....

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