Sheet prices may face ‘weakness’ in 2013
Dec 20, 2012 | 03:04 PM
| Chris Prentice
NEW YORK A slowdown in business activity has sparked uncertainty over where flat-rolled prices will land when ordering resumes at the start of January, market players have told AMM.
Domestic mills have attempted to retrieve deals at prices as high as $34 per hundredweight ($680 per ton) for hot-rolled sheet in the past week, but amid limited transactions those levels were a long shot, steel buyers told AMM.
"Youve got the its-that-time-of-year factored into it. People are in holiday mode," one Midwest service center source said of the slow demand.
Concerns over variability in pricing have left many spot buyers saying they will wait until the new year to book the flat-rolled material they are currently negotiating.....
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