Steel prices could rise on supply disruptions

Apr 03, 2014 | 04:37 PM | Catherine Ngai

Tags  steelmaker, hot-rolled, U.S. Steel, supply constraints, cold-rolled, Catherine Ngai

NEW YORK — A number of disruptions on the supply side may help U.S. steelmakers push prices higher, sources told AMM.

"If you’re looking for product off the integrateds and you don’t have a contract, you’re (short on luck)," one Midwest service center source said. "The bigger picture is that mills aren’t happy with the shortage. But, in the shorter term, it’ll probably push prices up, which is good for the mills. I wouldn’t 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 (, 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 (, March 28).....

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