Steel mills push for higher sheet prices
Dec 06, 2013 | 04:30 PM
| Catherine Ngai
NEW YORK U.S. mills are said to be pushing for higher pricing, effectively taking lower-priced deals off the table as buyers anticipate a near-term sheet increase.
With the announced sale of ThyssenKrupp AGs Calvert, Ala., facility at the end of Novembercombined with an uptick in raw material costs, steady demand, razor-thin inventory levels and extended lead timesmarket speculation rose this past week that a sheet increase is in the works.
"Things are heating up, and Im expecting another round of increases," one Midwest service center source said. "Im hearing it from every (mill) rep. My suspicion is that itll happen very soon."
Hot-rolled coil remained unchanged this past week at $33.75 per hundredweight ($675 per ton), with larger tonnages reported in the $33- to $33.50-per-cwt ($660- to $670-per-ton) range. Cold-rolled coil was steady at $39 per cwt ($780 per ton), with some reporting buys at $39.50 per cwt ($790 per ton).....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.