Steel Market Update to Continue to Offer our Steel Price Momentum Indicator
As many of our readers know, Steel Market Update likes to stay in touch and in tune with our readers. From time to time we feel it is necessary and healthy to question the products and services we offer in order to improve upon them – or to eliminate products which are of little to no value to our members.
In our last SMU newsletter we indicated we were reviewing the SMU Price Momentum Indicator which we just adjusted from “Neutral” to “Lower.” The comments we received back from our readers were definitely one sided. We appreciate each and every comment and suggestion made by our readers.
Below is an example from a manufacturer as to why SMU should keep our Price Momentum Indicator intact:
“After reading your closing comments in today's newsletter, I wanted to comment on your idea of eliminating your Price Momentum indicator. One of the reasons that I find your publication useful is that you provide price comparisons that other publications do not. As someone who is not a large volume steel buyer, the information that you provide is useful in determining when the time may be right to make bulk steel purchases. As long as you continue to gather information from a reasonable cross section of steel buyers, service centers and mills, the information that you are providing is a useful indicator of the trend of steel prices.”
Steel Market Update (SMU) will continue to produce our SMU Price Momentum Indicator. We agree with the above manufacturer that we provide a valuable tool in the decision making process (whether to make a short term, bulk or normal inventory purchase is up to each individual company as we do not make specific buying recommendations). We thank you for both your input and your business.
For those not familiar with the SMU Price Momentum Indicator (which is located on our Home Page) - SMU analyzes the flat rolled steel market each and every day. We closely follow and index hot rolled, cold rolled, galvanized and Galvalume pricing. We also monitor and report on pricing trends. One way we keep the marketplace informed is through our SMU Price Momentum Indicator which points to the direction prices are headed at any point in time.
For those who are "members" or subscribers to our Steel Market Update (SMU) newsletter, every Tuesday evening we publish our price ranges and indexes and by product what the Momentum is for pricing on each. You can learn more about our products on our website and you are welcome to use the links below to sign up for a free trial to our newsletter, learn more about our educational and training programs and conferences as well as information about becoming an annual member.