Edgen Group sees ‘trough’ in steel pricing

Aug 15, 2013 | 05:24 PM | Thorsten Schier

Tags  Edgen Group Inc., steel distribution, steel plate, steel sections, steel pricing, steel pricing trough, steel pipe and tube, Bourland & Leverich Jefferies & Co.

NEW YORK — Edgen Group Inc. expects steel prices have bottomed out after its earnings were crimped recently by low sales tags for its steel products.

"We really have had a very difficult market for steel prices in the last 18 months and quite frankly we were surprised this year at the continued decrease that we’ve seen," executive vice president and chief financial officer David Laxton told attendees Aug. 15 at Jefferies & Co. Inc.’s Global....

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