Steel sheet buyers expect price increase

Nov 06, 2013 | 03:57 PM | Catherine Ngai

Tags  steel sheet, hot-rolled, cold-rolled, USS-Posco Industries, California Steel Industries, lead times, prices, Catherine Ngai

NEW YORK — Several steel sheet mill representatives have reportedly indicated that another price increase is imminent, some buyers told AMM.

Mill representatives have asked several buyers to place orders ahead of "prices going up," although some have hesitated due to continued squeezed margins.

"We were offered some steel and told that if we want, we should buy it now at today’s price because the price is going to go up," a Midwest service center source said. "I’m not going to play their game anymore. Our statement will be and has been ‘if we need it, we’ll buy it. If we don’t own it, we don’t need it.’" ....

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