SMU CEO Discusses Steel Prices & Price Momentum

Jumping right back into the fray, as Michael Cowden mentioned in his Final Thoughts in Tuesday’s issue of Steel Market Update, the talk is about nothing but price, price, price.

As we look for signs of possible steel mill order book weakness, we are seeing conflicting signals. There are a couple of steel mills who have managed to find more flat rolled steel tons for their contract customers or for their best spot customers. To say this is a trend would not be appropriate. Based on where the tonnage is being offered from, it may be a recognition of difficulties within the automotive segment due to the chip shortage and other issues. However, SMU will continue to probe to see if there are more spot tons being made available into the bigger players.