In the most recent edition of the Steel Market Update newsletter we cover what has been so far a wild week in the industry. We have articles on the filing of Chapter 11 bankruptcy protection by RG Steel (which had already told the market they were closing their three mills beginning next week) as well as market reaction to the news. In a related article we spoke with Esmark Steel Group which is trying to acquire the Wheeling Corrugating Company assets from RG Steel.

Steel prices are important to our readers and we made some adjustments to our hot rolled and cold rolled indices. This is the second time we adjusted prices this week. SMU covers hot rolled, cold rolled, galvanized and Galvalume prices as well as three grades of scrap on a weekly basis.

Steel Market Update also covered in last night’s issue: a recap of the May steel and economic data tracked by SMU, we have an article by Joe Reinmann, CEO of Kataman Metals regarding the HR Futures market and commodity prices, scrap prices are poised to drop more than forecast two weeks ago, our SMU/Steel Reality MoMo index continued on a negative track, Peter Wright writes about various Steel Market Indicators which affect the construction and steel markets. SMU also covered the Chicago Purchasing Managers Index and the new purchasing manager announcement out of Alliance Steel.

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