Steel prices could rise on supply disruptions
Apr 03, 2014 | 04:37 PM
| Catherine Ngai
NEW YORK A number of disruptions on the supply side may help U.S. steelmakers push prices higher, sources told AMM.
"If youre looking for product off the integrateds and you dont have a contract, youre (short on luck)," one Midwest service center source said. "The bigger picture is that mills arent happy with the shortage. But, in the shorter term, itll probably push prices up, which is good for the mills. I wouldnt be surprised to see a price increase anytime now."
U.S. Steel Corp. told customers in an April 2 letter that it was temporarily curtailing its blast furnaces and steelmaking operations at its Gary Works in Indiana due to ice conditions on the Great Lakes (amm.com, April 3). The announcement came just days after the Pittsburgh-based steelmaker had to temporarily idle a basic oxygen process shop at its Great Lakes Works in Ecorse, Mich., after a roof collapsed (amm.com, March 28).....
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