Plate picks up as mart predicts pricing upside
Jan 15, 2014 | 04:31 PM
| Catherine Ngai
NEW YORK Extended lead times and the replenishment of lean inventories are helping boost the steel plate market, according to buy- and sell-side sources, with most predicting rising prices in the near term.
Those factors likely will have a large effect on the market, as will a rise in raw material costs as well as a leading move by SSAB Americas this week to hike minimum base prices on plate by $30 per ton (amm.com, Jan. 14).
"Weve continued to have good booking days where were booking more than we need to for that week," one mill source said, citing increasingly long lead times. "I dont want to get too far ahead of myself, but things are looking pretty good. Were obviously still concerned where pricing ends up with imports, but in the near term the flow is stronger and we think things are going to keep moving up."....
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