Analysis
September 30, 2025
Final Thoughts
Written by Michael Cowden
We moved our pricing momentum indicators from “lower” to “neutral” for all sheet products this week. For those keeping score, we had been at “lower” for six weeks. And I know some of you think we should have been there for even longer.
In our defense, the potential for a 50% tariff on Brazilian pig iron this summer made the case for “lower” a little tricky. And while we thought domestic mills might get a carve-out (they eventually did), we couldn’t be sure of it at the time.
