West Coast skeptical of plate price increase

Feb 19, 2013 | 04:36 PM | Frank Haflich

Tags  steel plate, West Coast, SSAB Americas, Frank Haflich

LOS ANGELES — West Coast carbon steel plate buyers are viewing the latest move to boost domestic prices with skepticism in light of continuing heavy service center inventories as well as a lack of a pickup in demand outside certain energy pockets.

"I know they’re trying to shore up prices, and I hope they can do it," a distributor source said of Lisle, Ill.-based steelmaker SSAB Americas’ move to hike plate prices by $30 per ton effective March 17. "But they’re raising prices at the same time people in our business are selling steel on the resale market at prices that aren’t much better than mill replacement....

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