Domestic sheet buyers see more price softness
Jan 16, 2013 | 03:43 PM
| Catherine Ngai
NEW YORK Flat-rolled steel prices have continued to weaken as a result of lackluster demand and are likely to continue to soften in the next week, according to domestic buyers, but they believe the bottom may be within sight and expect an uptick in the near term.
Market participants have confirmed in recent weeks that steel pricing has started to erode amid short mill lead times and a slow recovery in steel demand (amm.com, Jan. 9).
"I think prices have softened recently, but I think that trend will be short-lived," one buyer said. "We may be at the end of it. My personal view is that things should turn around and head back up, but in a very slow and gradual way.....
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