Steel buyers puzzled by disconnect on hikes

Nov 13, 2013 | 04:39 PM | Catherine Ngai

Tags  steel, pricing trends, steel prices, buyers, steel imports mills, price hikes, service centers, lead times CRU-minus

NEW YORK — Steel buyers were puzzled this week by some U.S. mills’ attempts to boost prices while others seemed to drag their feet on announcements, sources said.

Regardless, with most mills expected to climb on board the increases, buyers have said that one factor that continues to loom over the market is compressed margins due to a difficult resale market.

"I’m as confused as the next guy right now," said one East Coast service center source. "My main supplier has threatened to raise the price on me and no one seems to be selling off replacement costs. All this is just driving me deeper into offshore."....

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