Steel demand is weak, supply is even weaker, and prices are creeping along

By Tom Stundza -- Purchasing, 11/30/2007 12:19:00 PM

Creeping inflation is probably the best way to describe pricing in the carbon and alloy steel marketplace this quarter. Atop that, rising uncertainty is probably the best way to describe the outlook for 2008 steel demand. That’s the latest from Purchasing’s Steel Flash Report, issued today. “Transaction prices for steel mill products in total have crept forward by 4% since the cyclical nadir in August,” the report says, “and all this has happened because softness in the automotive, appliance and construction markets has dampened steel demand.” Reduced imports and depressed inventory levels at the distribution link have kept supply in line with 9% in reduced purchasing this year. And, the $20/ton price increases for hot-rolled and cold-rolled sheet announced for October continue to be fought by U.S. steel buyers. Purchase the November 30 Steel Flash Report at Purchasingdata.com.

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