Sheet market firms on supply-driven demand

Jul 05, 2013 | 03:51 PM | Catherine Ngai

Tags  steel, steel sheet, flat-rolled market, prices, steel supply, steel demand, ferrous scrap, OCTG trade case

NEW YORK – The steel sheet market continued to firm this past week on the back of supply-driven increases and steady demand, sources said.

While the first week of July is typically quieter due to the Independence Day Holiday, sources contacted by AMM said that the tightness in the hot-rolled market would continue for weeks–and even months–to come.

"The market on the sales (demand) side is pretty flat, but all the changes are on the supply side," said one mill source. "The mills are in a strong position right now, and the way I see it, it’ll probably last through October or November. This thing is supply driven because supply is tight."....

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