Steel mills push for higher sheet prices

Dec 06, 2013 | 04:30 PM | Catherine Ngai

Tags  steel sheet, hot-rolled, cold-rolled, ArcelorMittal, ThyssenKrupp, Nippon Steel & Sumitomo Metal, Calvert plant, steel prices steel buyers

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 AG’s Calvert, Ala., facility at the end of November—combined with an uptick in raw material costs, steady demand, razor-thin inventory levels and extended lead times—market speculation rose this past week that a sheet increase is in the works.

"Things are heating up, and I’m expecting another round of increases," one Midwest service center source said. "I’m hearing it from every (mill) rep. My suspicion is that it’ll 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).....

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