Steel sheet prices stable but change expected

Oct 30, 2013 | 05:25 PM | Catherine Ngai

Tags  steel sheet, hot-rolled, cold-rolled, SteelBenchmarker, ThyssenKrupp, Catherine Ngai

NEW YORK — The steel sheet market remained steady this week amid lead times pushing closer to the end of the year, discipline on higher pricing and firm demand.

But market participants have underscored that the industry looks to be on the cusp of fundamental change, particularly as negotiations continue for 2014 contracts and rumors swirl of an imminent sale of Essen, Germany-based ThyssenKrupp AG’s Steel Americas operations.

"As far as I’m concerned, this is a nine-inning game and we’re just in the second inning," one southern service center source said. "The OEMs (original equipment manufacturers) are shocked because their price tags have gone up $60 per ton and they’re in denial. But look at spot—it’s up even higher ... things are changing quickly." ....

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