Secondary Steel: "Skittish" Market "Leaves Folks Guessing" About Q1

Demand and pricing for nonprime or secondary steel products is a mixed bag, report Steel Market Update sources. Some segments of the secondary market are faring better than others.

Lisa Goldenberg, president of Delaware Steel Co. of Pennsylvania, Fort Washington, Pa., reports recent weakness in secondary sales. With domestic mills running at 80 percent of capacity, demand and pricing for prime and nonprime steel should be stronger. “We were doing great up until the last few weeks, but something changed. My forecast for the first quarter has been really strong, but now I wonder if I am doing the right thing.” Turbulent times on Wall Street and in Washington have the market on edge, she noted. “It leaves folks guessing about the coming quarter even more than usual.”