Steel sheet price hike gives market relief: Olympic
Nov 08, 2012 | 03:41 PM
| Corinna Petry
Tags
Olympic Steel,
David Wolfort,
flat-rolled,
U.S. Steel,
AK Steel,
Nucor,
imports,
plate
RG Steel
CHICAGO — Global oversupply, soft demand and negative sentiment continue to plague the steel market, Olympic Steel Inc. president and chief operating officer David Wolfort said during the company’s quarterly earnings call Thursday.
However, steel price increases announced since October should bring "some relief" from falling tags for most of the year, he said.
While excess supply and low demand pose challenges to price hikes, Wolfort said that the last hike may gain ground as buyers whittle down inventories. He added that he believes coil prices hit their trough last month and that the latest price increase will be supported by higher scrap pricing and lower mill output.....
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