Sheet steady despite drive for higher tags
Jul 25, 2014 | 04:55 PM
| Michael Cowden
CHICAGO Steel sheet prices held steady this past week as mills continued to drive for higher prices despite increased domestic output and lower or flat raw material costs.
AMMs hot-rolled coil price was steady at $33.50 per hundredweight ($670 per ton), while cold-rolled coil held at $39.50 per cwt ($790 per ton).
While no price increases have been announced, market sources said mills have been shopping for prices ranging from $34 to $35 per cwt ($680 to $700 per ton) but have largely given up on the higher numbers.
Some buyers said mills were unwilling to offer hot band at less than $34 per cwt, although others indicated deals as low as $33 per cwt ($660 per ton) remained available. Prices ranging from $32 to $33.25 per cwt ($640 to $665 per ton) continued to be available to tubers buying thousands of tons.....
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