Market sees SBQ price hike sticking
Aug 07, 2014 | 07:30 PM
| 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 arent 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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