Olympic optimistic on volume, not pricing

Feb 22, 2013 | 05:44 PM | Corinna Petry

Tags  Olympic Steel, flat-rolled steel demand, steel pricing, orders, original equipment manufacturers, OEMs, Rick Marabito, DAvid Wolfort Corinna Petry

CHICAGO — Executives at Olympic Steel Inc. expect flat-rolled pricing to stay relatively flat this year, but they hope to counter that with higher inventory turns as volumes continue to rise due to improved demand and deeper market penetration.

The company forecasts scrap prices will rise in March, probably matching the level where they were in January after having retreated $9 to $10 in February, chief financial officer Rick Marabito said during the distributor and processor’s Feb. 21 earnings call. ....

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