Market sees SBQ price hike sticking

Aug 07, 2014 | 07:30 PM | Thorsten Schier

Tags  special bar quality, SBQ, price increase, Thorsten Schier

NEW YORK — Participants in the special bar quality (SBQ) market largely expect a $40-per-ton price increase for September deliveries, which was followed by most domestic mills, to stick. However, there was some grumbling about mills raising prices when supply has been curtailed by operational issues at some producers.

"People aren’t happy about it, but what are you doing to do about it? With everybody announcing quickly and almost unanimously and everybody jumping on the bandwagon, why would they rescind it?" said a source at one Midwest distributor. He said he believed the increase was "not consumption driven," despite some pockets of strength in....

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