Sheet buyers question price hike in flat market

Jul 24, 2013 | 05:18 PM | Catherine Ngai

Tags  steel prices, Severstal, Nucor, ArcelorMittal, hot-rolled coils, catherine ngai

NEW YORK — Steel sheet prices have remained relatively flat for the third consecutive week, and some industry sources wonder whether the recent hike by at least one domestic mill will be accepted industrywide.

Dearborn, Mich.-based Severstal North America Inc. said in a July 23 letter to customers that it was boosting base prices for its steel sheet products effective immediately, setting hot-rolled coil at $33.75 per hundredweight ($675 per ton) and cold-rolled coil and hot-dipped galvanized at $38.75 per cwt ($775 per ton) (amm.com, July 23).

But AMM has not yet seen hikes by other mills, and some sources wonder whether there will be enough support for another price hike in the market after a number of supply-side issues plaguing the sheet sector in recent weeks—including AK Steel Corp.’s blast furnace outage and slab issues at ThyssenKrupp AG’s facility in Brazil—have effectively been resolved.....





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