Flat-rolled steel import market said depressed
Oct 23, 2012 | 05:17 PM
| 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 arent exciting at all. Its like nothing is going on right now," one trader said. "Theres too much steel in the markets, and were 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 todays uncertain environment buying domestic still seems like the best option, various purchasing sources said.....
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