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    October 13, 2013

    These are Interesting Times to be in the Steel Business…

    Written by John Packard

    There is a lot going on regarding contracts, contract negotiations and the timing of when orders/commitments need to be placed with the domestic steel mills. SMU has had direct conversations and seen email correspondence which suggests at least one of the integrated steel mills is pushing for remaining 2013 tonnage to be placed right away and a deadline is close for customers to order new contract material.

    Contract negotiations, just like spot purchases, can be lead time sensitive. With a number of mills having lead times well into the month of December it is only a matter of time before January 2014 tonnage will need to be committed and placed.

    John Packard

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