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01 Dec

Oversupply may hold US sheet prices down

Despite mill price increases to hot rolled and cold rolled coil, prices held this week at $630-645/short ton and $800-880/st, respectively, Kallanish reports. “I still feel coil will move off these lows, but there’s limited upside due to an oversupplied market. If reports are correct, mills are still accepting orders for 200 short tons or less. This indicates desperation on the part of producers. Price gains could be short-lived, especially if th…
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