W. Coast steel sheet tags fall on ample supply

Apr 09, 2013 | 04:21 PM | Frank Haflich

Tags  steel, flat-rolled, cold-rolled, hot-rolled, galvanized, West Coast, USS-Posco, CSI South Korea

LOS ANGELES — Flat-rolled steel prices are falling on the West Coast on what appears to be ample domestic supply from mills both inside and outside the region.

Hot-rolled coils delivered in this market from domestic mills have declined about $20 per ton during the past month to a reported $640 to $660 per ton ($32 to $33 per hundredweight) for medium to large service centers.

The decline is seen as being driven more by pricing from domestic mills east of the Rockies rather than by such foreign sources as South Korea and Mexico, whose prices in recent months have become less attractive to some buyers. How soon offshore mills might react to their diminishing competitiveness isn’t clear. ....

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