W. Coast sheet buyers lock in at old levels

Oct 24, 2012 | 06:11 PM | Frank Haflich

Tags  flat-rolled sheet, steel prices, West Coast market, Frank Haflich

LOS ANGELES — The recent price hike announcements have encouraged many West Coast buyers of flat-rolled steel to lock in their requirements through year-end, although most said they were able to get in at the old prices.

As a result, it is unclear if the new price level will take hold in the region, sources said.

Last week, both of the region’s major flat-rolled producers—California Steel Industries Inc., Fontana, Calif., and USS-Posco Industries, Pittsburg, Calif.—told customers they were raising prices a minimum of $40 per ton ($2 per hundredweight) effective Oct. 18 (amm.com, Oct. 18).....

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