Hot-rolled prices weaken on lower order outlooks in Feb.

Feb 06, 2014 | 03:02 PM | Corinna Petry

Tags  Hot-rolled coil, cold-rolled, galvanized sheet, prices, demand, imports, weather impact, Corinna Petry

CHICAGO — Winter weather is partly to blame for sluggish flat-rolled steel sales during the first week of February, service center buyers told AMM.

Spot prices, especially on hot-rolled coil (HRC), have frayed around the edges as a reflection of lowered order expectations, they said.

"We are buying what we need as needed," one large-volume Mississippi Valley buyer said. HRC producers "are willing to negotiate" on certain products—like waiving grade extras or offering a break on freight—"as long as they have a net number, like 34 cents ($680 per ton, delivered)."....

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