Sheet hikes seen influencing contract talks

Oct 03, 2013 | 04:10 PM | Corinna Petry

Tags  Flat-rolled steel, spot pricing, steel contract pricing, Steel Buyers Forum, Institute for Supply Management, inventories, Corinna Petry

CHICAGO — Flat-rolled steel buyers are welcoming the latest price increases because they said it provides a better base from which to negotiate 2014 fixed-price supply contracts.

On the spot market, however, lead times are short, the majority of service centers are keeping inventories in a tight range of between 30 and 60 days’ supply, and several buyers said their customers have slowed production.

"We are buying just what we need; nothing has changed in that regard," a source at a Mississippi Valley processor and distributor said. "I have a 45-day inventory. Lead times are short so there’s no reason to keep more."....

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