Buyers question possible steel sheet hikes

Oct 24, 2013 | 04:46 PM | Catherine Ngai

Tags  steel sheet, hot-rolled, cold-rolled, price hike, Catherine Ngai

NEW YORK — The steel sheet market remained steady this week amid increased discussions over a possible price increase and concerns over the ability to pass along higher numbers to end-users, sources said.

Rumors of a price hike last week caused nervousness among buyers, who said that increases continue to be supply-driven.

"We still have an overcapacity scenario situation in this country," a southern service center source said. "It seems like power is on the mills’ side right now."

This week, however, sources said it would make more sense for a price increase to occur after scrap prices settle, with many citing the likelihood for upward movement on the raw materials end, while service centers said that passing along increases would continue to be the most difficult part of the equation. ....

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