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Prices leveling, but volatility persists.

Publication: Metal Center News
Publication Date: 01-MAY-04
Format: Online - approximately 871 words
Delivery: Immediate Online Access
Full Article Title: Prices leveling, but volatility persists.(Service Center News)

Article Excerpt
With scrap prices moderating as demand from China levels off, at least for the time being, steelmakers are beginning to reduce their raw material surcharges. Thus, steel prices may have peaked, experts say, though how much and how rapidly they will decline remains unclear.

In a leading move, Steel Dynamics Inc. reduced its surcharge by $30 a ton last month. However, the company also raised base prices $40 per ton on new orders effective May 17. This means transaction prices on new orders to SDI are actually up $10 a ton.

Nucor followed suit in reducing its surcharge by $30, but is raising its base price for flat-rolled steel $20 per ton by June 1. The Nucor base price increase will be applied primarily to steel sold on the...



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