Evraz’s mill closure may lift plate prices
Oct 14, 2013 | 05:07 PM
| Catherine Ngai
NEW YORK The shuttering of Evraz Inc. North Americas Claymont, Del., operations will likely give steelmakers a reason to raise plate prices in a lackluster market, according to market participants.
Plate makers have faced flat market conditions in recent months, particularly due to steady but dull demand, competitive import offerings in certain regions and downstream competition.
However, the Chicago-based steelmakers Oct. 14 announcement that it would shutter the Claymont operations due to "subdued market demand" and a "high volume of imports" could shake the market slightly, at least for those operating in the Northeast, East Coast and parts of the Midwest, sources said, because the supply taken offline could cause an uptick in purchasing in the near term.
"I would expect (the other mills) to try and take advantage of this by raising prices," one Midwest service center source said. "(Evraz wasnt) producing a lot of tons, but theres going to be some speculation buys and a little spark where people are looking to stock up. I dont see it having a major impact, though, until we see demand really pick up."....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.