SBQ prices dip slightly as order entry dries up
Jun 14, 2013 | 03:57 PM
| Corinna Petry
CHICAGO Spot prices for most special bar quality (SBQ) products have slipped slightly this month compared with May amid short lead times, plentiful inventories, stable input costs and languishing demand outside of automotive, buyer sources told AMM.
"We are hanging on as best we can," a Southeast bar distributor source said. "We hear end users are benefiting from excess capacity and short mill lead times."
AMMs price for cold-finished Grade 1018 has inched down to $1,175 per ton ($58.75 per hundredweight) f.o.b. mill from $1,220 per ton ($61 per cwt) at this time last month, while prices for cold-finished Grade 12L14 have dropped to $1,210 per ton ($60.50 per cwt) from $1,240 per ton ($62 per cwt) previously. Hot-rolled 1000-series 1-inch rounds have shown a little more resilience, dropping just $3 per ton (15 cents per cwt).....
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