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(AMM) W. Coast plate hike in doubt; buyers cautious

September 03, 2010 - 21:21 GMT Location: LOS ANGELES

KEYWORDS: West Coast , steel

The jury remains out on a West Coast carbon steel price hike as a number of buyers said they've been holding off placing orders at higher levels with demand showing little sign of improvement.

Charlotte, N.C.-based Nucor Corp. has announced a $40-per-ton ($2-per-hundredweight) hike effective Sept. 1, while SSAB North American Division in Lisle, Ill., has told buyers it will increase prices by the same amount effective with Oct. 3 orders.

Delivered prices of warehouse grades and sizes prior to any increase have been estimated in the range of $43 to $45 per cwt, depending on the size of the buyer. Some sources believe the mills are aiming for at least a $1-per-cwt increase...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.


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