‘Hungry’ mills cut deals as sheet demand stalls

Feb 13, 2013 | 03:51 PM | Catherine Ngai

Tags  steel prices, SteelBenchmarker, steel buyers

NEW YORK — The domestic steel sheet market appears to be dragging its feet this week as buyers report that much of the momentum gained during the latest round of price hikes is effectively gone.

"I think the sad truth is that the number never really got where we thought it was. Whatever momentum (was) generated from the last round of hikes has effectively lost its steam. I think ... it fell a little short," said one Midwest sheet buyer. "Demand with our customers—the end-users—is still relatively soft. Overall, our customer demand is weakening and volumes aren’t spectacular.....

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