Sheet steel prices increase in busy summer

Aug 08, 2014 | 12:42 PM | Michael Cowden

Tags  steel, steel prices, hot-rolled, cold-rolled, hot-rolled coil, trade petition, oil country tubular goods, OCTG Michael Cowden

CHICAGO — Sheet steel prices edged up this past week as domestic mills continued to drive for higher prices and some buyers reported stronger-than-usual summer activity.

AMM’s hot-rolled coil price assessment rose to $33.75 per hundredweight ($675 per ton) from $33.50 per cwt ($670 per ton) previously, while cold-rolled tags increased to $39.75 per cwt ($795 per ton) from $39.50 per cwt ($790 per ton).

Some domestic mills were said to be pushing for hot band prices of $34.50 per cwt ($690 per ton) but reportedly were settling for numbers closer to $34 per cwt ($680 per ton).

The price gains came after several steel consumers said that July—usually the second-slowest month of the year behind December—had been among their busiest so far this year, and several predicted an even stronger market in the second half of the year.....

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