Sheet prices steady despite strong demand
Aug 15, 2014 | 04:45 PM
| Thorsten Schier
NEW YORK Sheet steel prices held steady this past week amid what sources described as surprisingly robust demand during the typically slower summer months.
"Our customers are doing better. So when they do well, we do well," one mill source said.
AMMs hot-rolled sheet price remained unchanged at $675 per ton ($33.75 per hundredweight), with some transactions also reported in the $680-per-ton ($34-per-cwt) range and significant volumes and areas with import competition seeing lower prices. Cold-rolled prices held at $795 per ton ($39.75 per cwt).
While import levels for both products have been relatively high in recent months, it has not translated to a drop in domestic prices due to solid demand and a variety of production crimps at U.S. mills, including unplanned outages (amm.com, July 29).
"Imports have kind of just been filling that gap," one Midwest distributor said.....
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