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    Prices

    February 9, 2016

    SMU Price Ranges & Indices: Sideways 3, Up 1

    Written by John Packard

    Flat rolled steel prices remained relatively range bound over the past week with only one product, cold rolled, showing any movement other than sideways. While speaking to steel buyers around the country many of the discussions centered on lead times, demand and what will the mills do next regarding steel prices. The consensus of opinion seems to be that most buyers are still taking a very conservative approach to buying steel, demand is a question mark in some arenas and the majority of buyers don’t think the mills will push too hard and risk having another flood of foreign steel should the spread become too wide.

    It seems like now is a time to reflect. There are a number of mills that are referencing lead times as “inquire,” at least on cold rolled and coated. Hot rolled continues to be the weakest product and will be for sometime to come. We are still hearing of HRC offers under $400 per ton with the southern mills a little more aggressive than those in the north.

    John Packard

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