ATI revises Aug. price hike; market puzzled
Aug 04, 2014 | 05:09 PM
| Rey Mashayekhi
NEW YORK Allegheny Technologies Inc.s (ATIs) Flat Rolled Products segment has revised a previously announced stainless steel base price increase for August to apply to "all existing orders" shipped Nov. 3, a move that some sources said will have little impact in the market.
Stainless steel distributors contacted by AMM said they were puzzled by the most recent move and its timing, given that industry leader North American Stainless Inc. (NAS) appears unlikely to back ATIs increase for August (amm.com, July 21).
Multiple distributors also confirmed that Ghent, Ky.-based NAS is not currently accepting orders for the 2015 calendar year, with the mills lead times extended well into the fourth quarter and the steelmaker "pulling in the reins a little bit" on a market that threatens to get "overheated."....
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