Final Thoughts

Other telling comments from SMU’s latest market canvass:

“Like most buyers, I won’t buy at this level for fear of prices going lower. I’m concerned about how weak the market is.”  

“I am not buying much these days. Like everyone else, we are becoming more cautious about 2H19 and I am pulling inventory down. The shrinking mill lead times allow us to have less on order because we can get it more quickly now.”

“Lead times are shorter than normal. We’re seeing mill production orders at both EAFs and integrated suppliers producing early. The mills are willing to negotiate.”

“We haven’t seen any new offers on products out of Mexico, Canada or Turkey yet. I think they will be cautious and try to stay under the radar.”

“Suppliers representing Turkish tons have gotten in touch. However, given the falling domestic market, and the remaining 25 percent tariff, I don’t think Turkish steel will be competitive as of now on flat-rolled.”

“It’s a tough market. It does appear we are getting close to the bottom. The question is, what will be the catalyst to reverse the momentum?”

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Tim Triplett, Executive Editor