Time may be up on firmer structural prices
Nov 21, 2013 | 06:54 PM
| Frank Haflich
LOS ANGELES Expectations that structural steel prices will firm before year-end are now fading as even a still-awaited wide-flange beam increase by a key player might not be enough to boost the market for December shipments.
Until recently, most buyers saw all the signs pointing to an increase. Gerdau Long Steel North America, Tampa, Fla., and Fort Wayne, Ind.-based Steel Dynamics Inc.s (SDIs) Structural and Rail division in Columbia City, Ind., raised prices $20 per ton effective Nov. 4 and Nov. 5, respectively. Also, AMMs consumer buying price for shredded automotive scrap in the Chicago market rose $31 per ton earlier this month amid anticipation that scrap could continue to gain ground (amm.com, Nov. 7).....
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