Plate outlook improving: ArcelorMittal
Mar 25, 2013 | 03:42 PM
| Frank Haflich
PALM DESERT, Calif. The domestic steel plate market is seeing renewed strength in a number of end-use sectors, but its the need to achieve profitabilityrather than the reported uptick in demandthat appears to be behind recent price hike announcements, an ArcelorMittal USA LLC executive says.
Jack P. Biegalski, director of plates and product control for Chicago-based ArcelorMittal, said that when questioned by customers about the announced price increases despite what theyve described as a lack of demand, his response has been straightforward: Producers were "not making any money" on plate at the earlier prices.
"Weve taken demand out of the equation" in plate pricing, Biegalski told the Association of Steel Distributors 2013 Annual Convention in Palm Desert, Calif., on March 21.....
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