Steel sheet price hikes said to attract imports

Nov 08, 2013 | 05:13 PM | Catherine Ngai

Tags  steel sheet, steel prices, flat-rolled steel, galvanized sheet, hot-rolled sheet, cold-rolled coil, steel imports, Catherine Ngai

NEW YORK — Steel sheet price increases from at least two U.S. mills has made some wary about the potential for larger volumes of imports in the first quarter, sources said.

With the higher numbers, traders said business could be looking up.

"The coated number hit the big four, which means they’re killing the golden goose. But this was inevitable," one trader said of the recent price increases.

Severstal North America Inc., Dearborn, Mich., on Nov. 7 announced a price increase that set hot-rolled coil prices at $35 per hundredweight ($700 per ton), and cold-rolled and hot-dipped galvanized coil at $40.50 per cwt ($810 per ton) effective 8 a.m. Central time Nov. 11. AK Steel Corp., West Chester, Ohio, followed later Nov. 7, immediately increasing its spot market base prices for all carbon flat-rolled products by $30 per ton (, Nov. 7). ....

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