SBQ prices follow scrap down: buyers
May 14, 2013 | 04:32 PM
| Corinna Petry
CHICAGO Hot-rolled and cold-finished bar product prices both fell in May amid lower scrap surcharges, with hot-rolled taking the bigger tumble, market sources said.
"Were fairly steady, but we are down 15 percent from last year," an Ohio Valley bar distributor said. "Were hoping scrap finds a bottom soon."
"One month is good; one month is bad" in terms of orders, the distributor said. "Theres not enough consistency and little momentum."
An upper Great Lakes special bar quality (SBQ) distributor agreed. "There is flat demand and a lack of excitement in the market," he said. "It could be a tough quarter. Mills are desperately trying to hold prices firm and would like them to go higher, but demand is not supporting it."....
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