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    November 1, 2016

    Service Centers Expect New Price Increase Announcements in November

    Written by John Packard

    Steel Market Update has been discussing the subject of steel prices with service centers from around the country and there seems to be an almost unanimous belief that new price increase announcements will be made between now and Thanksgiving (November 24th). Here is a sample of what the service centers have told SMU over the past 24 hours:

    A large coated steel service center told us, “Mills are holding more firm than anticipated. There is a global movement taking place right now due to input costs rising and the domestics appear to be on board. This may be an opportunity to close-out 2016 on yet another positive note for the USA steel industry.” This distributor went on to say, “We anticipate another mill increase announcement in November.”

    John Packard

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