Price Momentum Indicator

What is the Price Momentum Indicator?

  • A visual used to depict the near-term pricing trend – an arrow pointing up indicates the trend is for higher prices, an arrow pointing sideways indicates stabile pricing and an arrow pointing down indicates prices will trend lower.
  • Near-term pricing means during the next 30-60 day cycle.
  • The direction of the Price Momentum Indicator is determined through the Steel Market Update Market Survey and direct contact with steel buyers throughout the country. The Steel Market Update Market Survey is conducted every other week.
  • SMU Market Survey invitations are sent to over 700 companies throughout the United States and Canada. Our normal response rate is approximately 200 companies. Of those responding our average is approximately 49% are service centers/distribution companies, 48% are manufacturers and the balance are steel mills, trading companies and toll processors which support the industry.
  • Steel Market Update does canvass those being invited to participate in order to confirm they are actively involved in the flat rolled steel business. Our list is updated at least once per month and we are adding new companies on a continuous basis.
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“I have known John Packard for more than 25 years. We have worked together as colleagues. He was a galvanized supplier to my company for 11 years - or longer. I watched John develop his newsletter in the early 1990's when we worked together at Pacesetter Steel Service, Inc. where he produced Galvanized Steel Update. Once John started Paragon Metal Services, Inc. it was only a matter of time before he felt the need to keep his clients informed about steel pricing, market momentum and why events were happening. His foresight saved us a lot of money and has allowed our company to grow and prosper over the years. As long as there is a steel business there needs to be a quality publication like Steel Market Update to keep the playing field level and the competition honest. .” – Earl Goode Kenwood Painted Metals