Steel plate price hikes taking hold in market
May 02, 2014 | 03:55 PM
| Michael Cowden
PITTSBURGH Steel plate transaction prices are moving higher following increases announced by domestic mills in recent weeks.
While market sources in the Midwest reported paying most or all of the increase, some in the South and Gulf Coast said that pricing might be more flexible, citing competition between Midwest mills and southern mills in battleground regions. Others, however, said Midwest mills were sticking to their guns and not accepting lower-priced business, given current long lead times.
Some market sources said Gulf Coast mills might not be boosting prices as much as their Midwest competitors on expectations that scrap will move sideways or down. "Market conditions justify it to a certain point but (input) costs might not," one mill source said. "Scrap in May might not be able to support (an increase of) $40 (per ton)."....
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