Sheet price gains may not last long: Olympic
Aug 09, 2013 | 07:19 PM
| Corinna Petry
CHICAGO Olympic Steel Inc. welcomes higher prices for hot-rolled, cold-rolled and coated sheet products but questions the sustainability of the run-up given the glut in global steel supply and no significant signs of strengthening in real demand.
Steel buyers saw "a swift uptick (in flat-rolled pricing) starting late in the second quarter. Unplanned disruptions (mill outages) helped support producers prices," president and chief operating officer David A. Wolfort said during an Aug. 9 earnings call. "The rebound was a welcome relief, but it came off a very depressed level."....
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