Steel sheet prices firm ahead of OCTG ruling

Jul 11, 2014 | 04:11 PM | Michael Cowden

Tags  steel, steel prices, hot-rolled coil, cold-rolled coil, oil country tubular goods, OCTG, Commerce Department, duties trade petition

CHICAGO — Steel sheet prices were treading water this past week amid typically slower summer business activity as market players awaited the Commerce Department decision on imports of oil country tubular goods (OCTG).

AMM’s hot-rolled coil price assessment held at $33.50 per hundredweight ($670 per ton), while cold-rolled sheet was unchanged at $39.50 per cwt ($790 per ton). Large-volume orders to tubers were reported at $32 to $33 per cwt ($640 to $660 per ton).

Some mill sources reported that prices had firmed up as lead times were moving into September, but several buyer sources disagreed. The market was unstable despite sideways pricing, they said, with some mills pushing for higher prices while others were quietly looking to fill holes in order books by going directly to end-users instead of service centers—and at lower prices.....

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