Final Thoughts

June 18, 2014

I am going to start off today’s final thoughts with a shout out to one of our own, John Temples, who recently was interviewed by a Michigan Business Network radio station about Steel Market Update. You can listen to a replay of the interview by clicking on this link.

For our Premium Level members, be advised that April imports by product, port and country are on the website. We also expect to have our most recent survey results on the site by late Friday morning. Another supplementary newsletter will be coming out either on Friday or over the weekend as well.

We will have a number of articles in the Sunday evening edition of Steel Market Update regarding our flat rolled steel market survey results which was just completed late on Thursday afternoon.

Although we still have our SMU Price Momentum Index pointing toward lower prices there appears to be a bit of a lull as the market digests what it has learned while in New York. The impression is the mills will exhibit some restraint when it comes to pricing. However, as I reviewed (briefly) the results of our survey the respondents reported the domestic mills are in a negotiable mood. The debate will rage on…

One of our readers sent me Sal Tharani’s report essentially saying that there is support at the current price level.

Another one of our readers told me that their inventories went from being at the lowest level to the highest monthly level in one month due to the amount of foreign they are receiving this month…

The debate rages on.

Your comments and opinions are always appreciated: John@SteelMarketUpdate.com

As always your business is truly appreciated by all of us here at Steel Market Update.

John Packard, Publisher