Steel sheet prices continue to climb

Apr 28, 2014 | 04:16 PM | Michael Cowden

Tags  steel sheet, hot-rolled, cold-rolled, Great Lakes, supply chain disruption, Steel Dyanmics, Nucor, U.S. Steel Gary Works

CHICAGO — Steel sheet prices have continued to move upward as winter weather-hit domestic mill capacity collides head on with increased spring demand.

AMM’s hot-rolled coil price assessment has inched up to $34.25 per hundredweight ($685 per ton) from $34 per cwt ($680 per ton) previously, and cold-rolled has risen to $40.75 per cwt ($815 per ton) from $40.50 per cwt ($810 per ton).

With spot material in short supply and deliveries late, service center sources reported selling to each other at a much higher rate than normal as they struggle to avoid inventory holes. "We have seen an influx of (purchase orders) from service centers we don’t see very often—including some of the national service centers," one Midwest service center source said, echoing others.....

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