Steel sheet tags edge lower as output ramps up

May 30, 2014 | 11:08 AM | Michael Cowden

Tags  hot-rolled coil, cold-rolled coil, welded tubulars, oil country tubular goods, OCTG, sheet, plate, steel steel prices

CHICAGO — The heat is on hot-rolled band prices, which slipped again this past week due to increased supply, stable but flat demand and slower buying from key end markets such as welded tubulars, market sources said.

AMM’s hot-rolled coil price dipped to $34 per hundredweight ($680 per ton) from $34.25 per cwt ($685 per ton) previously, while cold-rolled tags fell to $40.25 per cwt ($805 per ton) from $40.50 per cwt ($810 per ton).

Some business—mostly but not entirely limited to large tonnages—was reported at $33.50 per cwt ($670 per ton), with a push for $35 per cwt ($700 per ton) largely abandoned as mills focus on shoring up business at the $34-per-cwt level, producer and buyer sources said.....

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