Sentiment flips on SBQ; hikes seen sticking

May 30, 2014 | 01:45 PM | Thorsten Schier

Tags  steel, special bar quality, SBQ, SBQ prices, price increase, Gerdau Long Steel North America, Thorsten Schier

NEW YORK — Sentiment in the special bar quality (SBQ) market appears to have turned around, with most participants expecting mill price increases slated for June 1 to stick after showing mixed reactions to March hikes.

"I think it’ll stick because mill lead times have extended across the board, and the level of our activity has gone up a little bit," one Midwest service center source said of the $30-per-ton ($1.50-per-hundredweight) increase by most domestic mills.....

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