SBQ prices follow scrap down: buyers

May 14, 2013 | 04:32 PM | Corinna Petry

Tags  special bar quality, SBQ, hot-rolled bar, cold-finished bar, bar pricing, bar demand, bar supply, steel bar Nucor

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.

"We’re fairly steady, but we are down 15 percent from last year," an Ohio Valley bar distributor said. "We’re hoping scrap finds a bottom soon."

"One month is good; one month is bad" in terms of orders, the distributor said. "There’s 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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