Stalled prices could spark steel sheet increase

Nov 28, 2012 | 05:03 PM | Chris Prentice

Tags  flat-rolled steel, steel sheet, hot-rolled coil, hot-rolled sheet, cold-rolled sheet, steel pricing, U.S. steel mills, steel service centers SteelBenchmarker

NEW YORK — Upward pricing in the domestic flat-rolled steel market appears to have stalled, stirring speculation that a third round of price increase announcements is on its way, market sources told AMM.

"How do you keep the momentum going?" a source at one southern distributor said. "It swung in (the mills’) favor, but this thing is so fragile."

Multiple mill sources confirmed to AMM talk of a third round of price increase announcements. "A price announcement should come soon," one mill source said Wednesday.

But the exact timing of any potential increase is still unclear. Some buyers said the expected increase would not be announced until the last few mills close their December order books, which could happen as early as the end of this week or early the next.....





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