Low steel coil prices a challenge: Hannah

May 09, 2013 | 04:09 PM |

Tags  Reliance Steel and Aluminum, David Hannah, Karla Lewis, hot rolled steel coil, prices, mill lead times, CRU index, demand

CHICAGO — The early months of 2013 are proving significantly more challenging for steel distributors, Reliance Steel & Aluminum Co. chairman and chief executive officer David H. Hannah said, with sagging metal pricing said to be the main culprit for uninspiring industry performance to date.

"Our first quarter versus a year ago is like comparing night and day," Hannah said May 8 at Wells Fargo Securities’ Industrial and Construction Conference in New York.

Last year, pricing on all Reliance’s products were going up, he said. "This year, all of our pricing was going down. Going into 2012, there was optimism. This year, there was a lot more uncertainty," Hannah said.....

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