Surge in steel purchases dips, but tags stick
Dec 10, 2013 | 03:51 PM
| Corinna Petry
CHICAGO Purchasing managers bought more steel in November compared with October, according to an Institute for Supply Management (IMS) survey, likely in anticipation of higher prices as well as reflecting an upswing in new orders and backlogs. However, buyers told AMM that they are cautious about placing orders in December.
The IMS survey showed a 15.9-point increase in the proportion of buyers who said they would rely more on offshore sources over the next six months; a 15.9-point jump in respondents who said foreign prices are below domestic tags; and a 4.6-point rise in those who reported foreign mills were increasingly active and aggressive in seeking U.S. orders.....
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