Steel sheet prices slip; players mixed on mart
Jun 13, 2014 | 02:05 PM
| Michael Cowden
CHICAGO U.S. steel sheet prices continued to drift downward this past week despite a push by domestic mills to shore up prices and outages at integrated mills in the Midwest.
Some market players suggested the drop was an indication that the "summer doldrums" had arrived early. Thats in part because increased imports and domestic availability have combined to push prices down despite integrated mill outages and attempts to hold the line on pricing, they said.
Yet other market sources dismissed the notion that summer had arrived early, pointing to lean inventories, healthy lead times and automakers scaling back normal two-week summer shutdowns.
AMMs hot-rolled coil price has slipped to $33.50 per hundredweight ($670 per ton) from $33.75 per cwt ($675 per ton), while cold-rolled sheet held steady at $40 per cwt ($800 per ton).....
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