Hikes in US sheet prices strengthen imports

Oct 15, 2013 | 04:28 PM | Catherine Ngai

Tags  steel, cold-rolled coil, hot-rolled sheet, China sheet, India sheet, steel traders, steel imports, Catherine Ngai

NEW YORK — Increased momentum in the U.S. steel sheet market after a recent round of price increases has spilled over to the import market, traders said, with increased interest in foreign material and a decent price spread making deals possible.

"Our import activity is the best we’ve seen in a while," one trader said. "This is more on the cold-rolled and galvanized side. Clearly, because of the nature of the beast, we aren’t seeing much hot-rolled as this is a protected market segment. The price increases ultimately stopped the market decline and demand is showing some resilience. People are buying a little more import."....

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