Steel sheet prices cool as weather warms up

May 23, 2014 | 05:08 PM | Michael Cowden

Tags  steel, steel prices, hot-rolled, cold-rolled, plate, imports, China, Great Lakes U.S. Steel

CHICAGO — Steel sheet prices’ climb has stalled and reversed course slightly as some mills in the Great Lakes region return to normal production levels heading into the seasonally slower summer months, market sources said.

AMM’s hot-rolled coil price assessment slipped to $34.25 per hundredweight ($685 per ton) from $34.50 per cwt ($690 per ton) previously, while cold-rolled tags held steady at $40.50 per cwt ($810 per ton) after slipping 25 cents per cwt ($5 per ton) earlier in the month (, May 16).

The dip comes as market sources reported some mills offering $33.50 per cwt ($670 per ton) for larger orders as they looked to fill holes in production schedules. Smaller buys were still reported as high as $35 per cwt ($700 per ton), although that number appeared to be increasingly unrepresentative of the market.....

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