While increased domestic flat steel prices could invite more imports into the United States, according to market participants, preliminary Census data shows that shipments of finished steel products in April declined on a year-on-year basis.
Domestic flat-rolled steel prices have gone up in the past two weeks as a result of higher scrap costs, slowly recovering demand and mills' second attempt to raise prices.Sources also warned that by pushing prices up too high, too fast, domestic mills were forcing buyers to seek foreign alternatives, and noted that still-weak demand would not support buyers - especially service centers - passing higher steel costs on...