Steel sheet mart unsure price hike will succeed

Mar 18, 2014 | 03:35 PM | Catherine Ngai

Tags  steel sheet, hot-rolled, cold-rolled, coated, ArcelorMittal, Severstal, NLMK, U.S. Steel catherine ngai

NEW YORK — At least four steelmakers have raised prices on flat-rolled sheet products, but market participants are mixed about the viability of the increase.Chicago-based ArcelorMittal USA LLC appeared to lead the move March 17 by pushing minimum prices on hot-rolled coil to $33 per hundredweight ($660 per ton) and cold-rolled and coated products to $39.50 per cwt ($790 per ton), market sources confirmed. The move was followed by Severstal North America Inc., Dearborn, Mich., for spot inquiries, citing increasing natural gas prices, rising ferrous....

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