Steel sheet prices halt rise, said poised to fall
Dec 05, 2012 | 04:21 PM
| Chris Prentice
Tags
flat-rolled steel,
steel sheet,
hot-rolled sheet,
cold-rolled sheet,
U.S. steel prices,
steel prices,
steel service center,
steel distributor
Chris Prentice
NEW YORK — Domestic flat-rolled steel mills continue to push for higher prices, but with lead times stagnant and year-end demand waning, mill and service center sources say the market’s upward momentum has stalled—and could be poised to fall.
“It’s either going up or going down,” a mill source said. “(The price) never stays flat in this business anymore.”
Quotes from domestic mills were reported as high as $33 per hundredweight ($660 per ton) for hot-rolled sheet as of mid-day Wednesday, but both mill and buyer sources said actual buying levels were still in the $32- to $32.50-per-hundredweight ($640- to $650-per-ton) range, with most orders trending toward the lower end. ....
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