Flat Rolled Steel Prices to Move Lower from Here

Metals , Steel , Uncategorized Jul 22, 2011 No Comments

SteelNucor, in their earnings press release from earlier today stated, “…new domestic supply in the sheet market and increases in imports of sheet steel have begun to put significant pressure on prices and margins. Unless the supply/demand/pricing dynamics reverse themselves, the sheet market will be the most challenging for the industry in the third quarter.”

The new supply Nucor is speaking about is out of RG Steel Sparrows Point, Severstal Columbus and ThyssenKrupp Steel USA. However, there have been issues with production and systems which have prevented at least two of the three mills from having as large an impact as they could present if they were running smoothly.

Steel Market Update (SMU) believes flat rolled steel prices will continue to erode over the next 30 days and perhaps longer.

via Flat Rolled Steel Prices to Move Lower from Here | Steel Blog: “Steel Prices, News and Analysis” > Official Blog of STEEL.

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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.

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