Sheet tags still have a little room to rise: AK

Jul 23, 2013 | 04:50 PM | Catherine Ngai

Tags  steel prices, AK Steel, James Wainscott, unplanned outage, hot-rolled steel, steel prices, sheet prices, automotive Catherine Ngai

NEW YORK — While the U.S. steel sheet market has tightened in recent months, coupled with a number of successful rounds of price increases, there might only be enough room for another $20 to $30 per ton in hikes before it hits a potential ceiling, AK Steel Corp.’s top executive said.

"Things are tight ... and it’s bolstered pricing. We’re quoting $650 (per ton) and evaluating if another increase is warranted," James L. Wainscott, chairman, president and chief executive officer of the company, said during a second-quarter earnings call July 23 as he speculated on the price level at which imports would likely become attractive enough to U.S. buyers. "I’ll leave that to those who look at the bigger picture, but maybe another $20 to $30 per ton (higher) if I were to be a prognosticator."....

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