Steel sheet buyers refusing to build stocks

Apr 05, 2013 | 04:20 PM | Corinna Petry

Tags  Steel buyers forum, Institute for Supply Management, flat-rolled demand, supply, steel prices, Corinna Petry

CHICAGO — Steel buyers have become more wary and cautious in recent weeks than they had been during much of the first quarter, particularly when it comes to building inventories, an industry survey shows.

Nearly 55 percent of steel purchasing managers surveyed by the Institute for Supply Management’s (ISM’s) Steel Buyers Forum in March said their inventories were too high compared with demand, up from 50 percent who thought their stocks were too high in February and just 36.4 percent who deemed their inventories too large in the first month of the year. No respondents said their inventory levels were too low when surveyed in March, unlike the 7.1 percent who found themselves short material the previous month.....

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