US sheet steel prices appear to be headed higher as both buyers and sellers report solid discipline among producers.
While several buyers said they are seeing stable prices, one service center source said he's been able to raise prices to nearly match replacement costs he's receiving from mills.
"[We're not getting] the full increase yet, but making good progress," he said, adding that he's seen offers between $660-680/st. "I would think new inquiries or small ones would definitely be closer to $670/st average."
Another service center source said his selling prices are unchanged from last week, and said very large orders outside of Platts specs -- upwards of 15,000 st -- have been selling slightly above $650/st.
Imports remain a concern, he said, but they are unlikely to impact the market until first quarter.
"Regarding imports, yes, customers are beating us over the head with it," he said. "Those who can [import steel] have done it, but those who can't are just talking about it."
Platts held its hot-rolled assessment firm Wednesday at $655-665/st and maintained its cold-rolled assessment at $755-765/st. All prices are normalized to a Midwest (Indiana) ex-works basis.
