Plate prices tick up as mills hold their ground
Oct 25, 2013 | 06:38 PM
| Catherine Ngai
NEW YORK Steel plate prices saw a slight uptick this past week as market sources reported that mills were more determined to push for higher numbers.
But while higher prices may be achieved in the short term, some market participants wondered why SSAB Americas announced a $20-per-ton-hike Oct. 24, given flat market conditions (amm.com, Oct. 24 ), amid skepticism that another increase can be passed on to customers.
"Most, if not all, service centers have kept their inventories lean," a Midwest distributor source said. "Mill lead times are still stinkin short and I dont really believe anything has changed. My gut tells me the rest of the fourth quarter is what youll see today and maybe well see a slight uptick in the first quarter of next yearbut I definitely wouldnt look for anything monumental."....
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