Market mixed on direction of steel sheet prices

Sep 11, 2013 | 04:16 PM | Catherine Ngai

Tags  flat-rolled steel, steel sheet, hot-rolled, cold-rolled, U.S. Steel, sheet, Lake Erie Works, SteelBenchmarker Catherine Ngai

NEW YORK — Market players remain mixed over where steel sheet prices will move in the next few months, with participants continuing to cite stability in the sector, sources said.

After a number of price hikes through the summer, sheet tags have remained fairly stable in the past few weeks, and many service center sources said they are holding off buying until a clearer picture emerges. Others said that this month will be indicative of whether prices remain strong or fall apart in the coming months.

"We’re in a few critical weeks right now and people are testing the resolve of the mills to keep prices up," one northern service center source said. "I hope they stick, and there’s certainly no need for them to come off of the prices, but we’ll see what happens." ....

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