Steel shipments jump on strength in autos
Jul 16, 2014 | 06:32 PM
| Michael Cowden
CHICAGO The summer doldrums may be less dull than usual this year as service center shipments ramp up due to customer restocking and improved demand from the automotive sector.
Service center shipments shot up in June compared with the same month last year in a trend some industry sources interpreted as underpinning a flat-rolled steel market on solid footing.
The stronger year-over-year numbers come as inventories remain lean and customers are looking to restock, especially with prices likely to hold their ground or even tick upward slightly in coming weeks, market sources said.
"I think its stabilizing. Certainly were not hearing the doom and gloom that people were prophesying in early June," one service center source said.....
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