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| USA's December Market Prices Trend Downward For Flat Products |
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Domestic market prices of steel products in the USA trended downward for flat products in the Middle West as of Dec 31, 2008, according to a survey by the Japan Iron & Steel Federation. As a result, there is a view that local market prices will take still more time to bottom out for sheet products. Summing up the findings of its survey, the JISF gives the following report. <>As of Dec 31 last year, Midwest market prices of flat products fell by $120 from a month ago to $566/ton for HR sheets, by $115 to $667/ton for CR sheets, by $59 to $757/ton for hot-dip galvanized sheets, and by $52 to $972/ton for heavy plates. A continued decline in sheet prices ensued from slack domestic demand from consuming industries such as autos. <>As of Dec 31 last year, Midwest market prices of long products fell by $37 from a month ago to $875/ton for structural shapes and by $171 to $727/ton for wire rods. But they rose by $48 from a month ago to $620/ton for rebars, a rebound for the first time in four months. Some items such as rebars came under a rebound in prices, albeit a small one, as production cutbacks and inventory adjustments had brought effects amid a continued slump in domestic demand. |
| last modified : Fri 23 Jan, 2009 [10:55] |
