Steel sheet market see support for hikes

Nov 14, 2012 | 04:12 PM | Chris Prentice

Tags  flat-rolled steel, hot-rolled steel, cold-rolled steel, U.S. steel market, steel mills, steel prices, steel distributors, service centers SteelBenchmarker

NEW YORK — While market sources say the most recent round of flat-rolled steel price increases might have some legs, spot buyers reported limited transactions in the first half of this week, noting that they have enough inventory to meet demand.

Both steel buyers and sellers said they see a lot of support for the recent price increases.

"Scheduled and unscheduled maintenance issues, and the sharp move in scrap, have all motivated steel buyers to believe that this upcycle has some wind behind it," one mill source said.

Average industry lead times have pushed out to about four weeks vs. three to four weeks previously thanks to high levels of ordering prior to the recent price increase announcements.....

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