NEW YORK Market conditions in merchant bar were
described as steady this past week, with little to suggest a
change in prices in the near term.
I havent heard anything (on a possible price rise)
and they (mills) are not expressing that sentiment, one
Midwest service center source said, adding that this reflected
As far as I see, there havent been any net changes.
Its just been flat.
As a result, 2 x 2 x ¼-inch angles remain at $753 per
ton ($37.65 per hundredweight), 3 x 3 x ¼-inch angles at
$762 per ton ($38.10 per cwt), 8- x 11.5-inch channels at $747
per ton ($37.35 per cwt) and ½- x 4-inch flats at $757
per ton ($37.85 per cwt), though one mill source claimed there
was some discounting off published numbers.
Theres more than just a normal amount of funny
business right now, he said, adding that discounts of
about $10 to $15 per ton were available even for smaller
Ive heard about (some mills) giving discounts to
everybody, he said.
The Midwest source, however, disagreed that discounting was
I dont think theyre discounting for people
buying truckloads, he said, adding that lower prices were
only available for large, longer-term orders.
One western distributor claimed mills were slowing down their
production in order to have less floor stock.
Domestic mills are putting less material on the floor.
They prefer to have the cash flow and put the money in their
pocket, he said, estimating operating rates for those
mills at about 65 to 70 percent.
In the meantime, imported 2x2x1/4-inch angles are coming
in mainly from Mexico, with prices reported at $660 to $700 per
ton ($33 to $35 per cwt) this past week, down from $675 to $700
per ton ($33.75 to $35 per cwt) previously.
Mexico continues to dominate the market with tons,
one trader said, adding that even the lower price levels were
failing to spur demand.
What this is showing is no matter the price, theres
just not a lot of demand out there.