Sheet prices climb as steel mills unite on hikes

Jun 06, 2013 | 03:54 PM | Catherine Ngai

Tags  steel sheet prices, hot-rolled coil, Midwest, U.S. Steel, catherine ngai

NEW YORK — Steel sheet prices continued to climb this past week due to extended lead times on certain products, labor issues and a unified front by mills on a recent price hike, sources say.

Buyer sources said mills are holding the line on the recent price increase, particularly as several mills have reported lead times for hot-rolled as far out as mid- to late July on fuller order books due to strength in the automotive sector.

"Most of the mills have held pretty firm to the new prices. We’ve had some starting to book at the higher prices, but I think we’re all waiting to see if anyone cracks and gives in to the old prices," one mill source said. "Right now, though, hot-rolled is extremely tight in the Midwest." ....





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