Steel sheet prices mixed; outlook split

Jun 20, 2014 | 04:17 PM | Michael Cowden

Tags  steel, steel prices, hot-rolled, cold-rolled, Steel Dynamics, SDI, Mark D. Millett, Metals Service Center Institute MSCI

CHICAGO — Hot-rolled prices held steady this past week despite widespread expectations for a decline, while cold-rolled tags edged down on continued import competition.

AMM’s hot-rolled coil price remained at $33.50 per hundredweight ($670 per ton), while cold-rolled sheet slipped to $39.75 per cwt ($795 per ton) from $40 per cwt ($800 per ton) previously.

The steadiness on hot band came as market sources reported some Midwest mills trying to hold the line on a previous attempt to set a floor of $34 per cwt ($680 per ton). However, most sources said $33.50 was not difficult to obtain and some reported lower prices—$33 to $33.25 per cwt ($660 to $665 per ton)—from some mini-mills to large customers, such as tubers, buying bigger quantities.....

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