U.S. Steel outage could boost steel sheet prices

Apr 02, 2014 | 03:32 PM | Catherine Ngai

Tags  steel sheet, U.S. Steel, Great Lakes Works, ferrous scrap, Catherine Ngai

NEW YORK — Steel market participants are growing increasingly nervous about supply-side dynamics as a result of an ongoing outage at U.S. Steel Corp.’s Great Lakes Works in Ecorse, Mich., with some saying the issue could lead to higher prices in the near term.

The outage, which market sources expect to last anywhere from two weeks to a month, comes at a time when the sheet market is seeing tightness that could lead domestic producers to push for another round of price increases.

"The market is relatively tight," one Midwest service center source said. "I don’t know how much the U.S. Steel issue will affect the overall market, but I’m fully expecting mills to come out with an increase because they can now. The mills are busy and the service centers are busy."....

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