Sheet prices soften on minimal buying activity

Feb 06, 2014 | 05:57 PM | Catherine Ngai

Tags  steel sheet, hot-rolled, cold-rolled, steel pricing, Catherine Ngai

NEW YORK — Steel sheet prices softened this week on minimal buying activity, an expected fall in raw material costs and an increasing volume of imports, although sources expect pricing to remain fairly steady in the weeks to come.

"Prices have moved down a little bit, but nothing major," one Midwest service center source said. "Business has been pretty stable and there has been no big pushback from our customers."

Hot-rolled sheet slid to $33.25 per hundredweight ($665 per ton) from $33.75 per cwt ($675 per ton) previously, while cold-rolled edged down to $38.50 per cwt ($770 per ton) from $38.75 per cwt ($775 per ton).....

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