Steel sheet prices dip as lead times stay short
Apr 04, 2013 | 03:39 PM
| Catherine Ngai
NEW YORK Steel sheet prices continued to slide this week as domestic overcapacity and widespread discounting more than offset continued stability in demand.
Although end-use demand remains fairly steady, sources said there are still too many suppliers chasing too few orders, and there appears to be little ahead that will fundamentally correct that imbalance.
"I dont think there is room (for mill prices) to fall, but I think they will anyway. Were at the point that if one mill doesnt reduce their price, another will," one Midwest service center source said. "If we were desperate for steel, we would pay higher for it. But we dont need it that desperately. The story is getting old: demand is short and availability is long." ....
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.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.