Potential trade cases worry steel importers

Jun 24, 2014 | 11:32 AM | Michael Cowden

Tags  suspension agreement, Russia, trade petition, hot-rolled, cold-rolled, coated, galvanized, China India

CHICAGO — Offshore hot-rolled steel prices held steady while cold-rolled tags slipped as fears mounted of potential U.S. trade action against huge segments of the market, including cold-rolled sheet from China and India and hot-rolled coil from Russia.

But some market sources dismissed the talk—which also included rumors of potential changes to, or the revocation of, the suspension agreement with Russia—as ruses by domestic mills aimed at scaring off import competition.

AMM’s hot-rolled coil price assessment was unchanged at $580 to $600 per ton ($29 to $30 per hundredweight), while cold-rolled sheet slipped to $620 to $660 per ton ($31 to $33 per cwt) from $660 to $680 per ton ($33 to $34 per cwt) previously. Meanwhile, medium plate increased to $720 to $740 per ton ($36 to $37 per cwt) from $700 to $720 per ton ($35 to $36 per cwt).....

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