Sheet prices slide amid market nervousness

Feb 27, 2014 | 05:54 PM | Catherine Ngai

Tags  steel sheet, AK Steel, sheet pricing, lead times, Catherine Ngai

NEW YORK — U.S. steel sheet pricing softened this week as market participants remained nervous about the effects on domestic tags of cold weather, falling raw material costs and imports.

Hot-rolled coil slid to $31.75 per hundredweight ($635 per ton) from $32.50 per cwt ($650 per ton) last week, sources said, while cold-rolled fell to $38 per cwt ($760 per ton) from $38.25 per cwt ($765 per ton).

But while a number of buyers were nervous about the future, particularly as short lead times at a number of mills have put some on edge, others said reports that severely cold weather was hurting the market were overblown.....

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