Steel beam tags rise but old price still available

Nov 15, 2012 | 05:01 PM | Frank Haflich

Tags  structural steel, beams, price changes, Gerdau, Nucor-Yamato, Nucor, Steel Dynamics, Frank Haflich

NEW YORK — Structural steel prices are moving up, but wide-flange beam buyers continued to order material this week at price levels seen before recently announced hikes.

"I’m still able to buy at the old price" of $745 per ton ($37.25 per hundredweight) on core sizes, one distributor said this week, citing short lead times that allow him to order material shipped by Nov. 30.

One reason transactions were continuing to take place at the previous price level rather than the new tag of $39 per cwt ($780 per ton) f.o.b. mill is what market sources described as an unusually large amount of floor stock being held by mills, although most buyers conceded that, as the end of November nears, they’ll be paying the higher price. ....

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