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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