US transaction values appear to have bottomed out in September. However, although we have posted some small transaction price increases this month, several smaller mills are still discounting in some instances to keep production levels up. Inventories at service centres and O.E.M's are now more in line with demand. Distributors are reporting slow activity and those buyers who can afford to wait before placing orders are doing so. The weak US dollar continues to hold imports at bay. Some of the larger steelmakers are actively pursuing export opportunities.

Transaction prices in Canada have been undermined by low sales, oversupply and a strong currency. Local mills are experiencing weak demand from end users and distributors, whilst ...