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    Market Data

    November 2, 2014

    October at a Glance

    Written by Brett Linton

    For the majority of the month of October, the SMU Steel Price Momentum Indicator was referencing lower prices for the next 30 to 60 day period. At the end of the month, we revised our Indicator to Neutral due to AK Steel, US Steel and Nucor having made $20 per ton price increase announcements. It is our policy to adjust our Indicator to Neutral as soon as we feel the domestic mills are making a concerted effort to change pricing direction. A Neutral Indicator means prices are in transition or may trend sideways for a period of time. It does not mean prices will move in one direction or another, we leave that to the mills and their customers to decide.

    SMU Steel Buyers Sentiment Index continues to be quite positive with our October data averaging +61.5, which is better than our September +58.5. Future Sentiment came in at +64 (average for October) down slightly from +65 in September. However, both Indexes were lower when we made our last measurement during the middle of the month. We will need to watch to see if this is an early warning of slowing in portions of the steel industry (or simply seasonal factors in play).

    Brett Linton

    Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

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