Sheet prices inch up but volumes signal doubts
Aug 08, 2013 | 06:01 PM
| Catherine Ngai
NEW YORK Steel sheet prices have ticked up slightly over the past week but volumes purchased reportedly have declined as some buyers speculate that recent pricing highs will be short lived
Hot-rolled sheet transactions this week were reported at $33 per hundredweight ($660 per ton), up from $32.25 per cwt ($645 per ton) last week, sources said, the highest level since September 2012, when prices started off the month at around $33.50 per cwt ($670 per ton).
Since the end of May, U.S. steel mills have successfully ratcheted up average transaction prices for hot-rolled sheet from $28 per cwt ($560 per ton) to this years published high of $33.50 to $33.75 per cwt ($670 to $675 per ton). But while certain supply constraints helped tighten the market, and in turn lifted prices, some sources are now questioning whether an inevitable tumble is around the corner.....
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