Sheet steady despite drive for higher tags

Jul 25, 2014 | 04:55 PM | Michael Cowden

Tags  steel, steel prices, price increase, oil country tubular goods, OCTG, trade petition, scrap, sheet hot-rolled coil

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.

AMM’s 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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