Distributors puzzled by merchant product cuts
Feb 21, 2013 | 05:56 PM
| Samuel Frizell
Tags
Nucor,
Gerdau Long Steel North America,
Steel Dynamics,
SDI,
merchant products,
price decrease,
scrap,
steel imports
Samuel Frizell
NEW YORK — Mill buyers and distributors of merchant products were left with unanswered questions and devalued inventories following the unexpected $50-per-ton price drop by major domestic mills last week, with many of them blaming competition with imports for the reduction.
"Our inventory got slashed overnight. I’m not quite sure what brought it on. I’m just as puzzled about it as anyone. Exactly what was behind it, I don’t know," one distributor said.
Nucor Corp. lowered its prices on merchant products by $50 per ton effective with Feb. 15 shipments (amm.com, Feb. 15) and Gerdau Long Steel North America and Fort Wayne, Ind.-based Steel Dynamics Inc. (SDI) followed suit the next day (amm.com, Feb. 20).....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here