Sheet steel prices may drop in 2H
-- Purchasing, 5/8/2008
Some steel mills have announced June delivery hot-rolled sheet in coil prices as high as $1,000/ton, almost double the $544 price average of last December. However, analyst Michael Willemse at CIBC World continues to expect hot-rolled sheet prices to remain steady at approximately $800-850/ton over the summer, “before likely declining as the panic buy in global markets subsides.”
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