Panic buying still driving up US flat steel prices – Metals | Platts

Metals , Steel Dec 16, 2010 No Comments

The price of hot-rolled coil steel in the US increased another $5/st Wednesday to a midpoint of $670/st ex-works Indiana, as buyers scrambled to secure what tons they could, according to both buy- and sell-side players. The price of cold-rolled coil was steady Wednesday, after both products jumped about $60/st Tuesday.

“Just about everyone is paying $680 now [for HRC],” said a big buyer in the Midwest, adding “there is word some mills are quoting export HRC deals at $660/st ex-works, so that might be the floor–but all but a few mills are booking February.”

via Panic buying still driving up US flat steel prices – Metals | Platts News Article & Story.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.