October 2010 | Steel Tracker
The squeeze continues for US coil mills: Flat Product Analysis-North America & Europe
R coil prices have lost more than downstream prices in recent weeks.
The last few weeks have again shown US coil mills that when raw materials costs rise not only can they not count on the prices of their finished products rising as well, but that they cannot even depend on their prices remaining stable. Each week that passes seems to confirm that service centres have confined themselves to back-to-back buying for firm onward sales. For a short period there were reports of deals at higher prices; some service centres may have filled gaps in their inventories ahead of a proposed list price increase. Once stocked up, however, they returned to their waiting game and have watched prices continue their slide.
HR coil prices have lost more than downstream prices in recent weeks. This is a sign that coil is in oversupply . Stock management at service centres seems to be a determining factor in current coil price movements; and US steelmakers...
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