Steel sheet hikes fizzle on overcapacity woes
Mar 21, 2013 | 02:49 PM
| Catherine Ngai
WASHINGTON Just weeks after the latest round of steel sheet price hikes were announced, service centers said that deals are inching back into the market, which could cause another possible slide in prices in the near term.
"There are thousands and thousands of tons in the market right now, and we just have too much capacity," a Southeast service center source said. "These increases just arent holding. The mills tried very hard to establish higher numbers, but buying hot-rolled black is just like buying a box of crayons. Everyone is making it. I dont have faith in it anymore." ....
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