Steel buyers unsure if beam prices may rise

Apr 07, 2014 | 06:39 PM | Frank Haflich

Tags  steel, steel beams, price increase, Frank Haflich

LOS ANGELES — A smaller-than-anticipated rise in a key scrap price has steel buyers viewing the chance of an increase in beam prices as a toss-up.

The AMM consumer buying price for shredded automotive scrap in the Chicago market rose to $398 per ton late last week, up $10 but below expected increases.

While market sources were unsure whether structural steel producers will aim for a price increase soon, they nevertheless believe an increase is more likely in beams than in some other long products, such as merchant bar, which continue to see competition from Mexico and offshore sources. ....

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