More Mixed Messages on Price Direction

Thursday, August 10, 2017 8:14 PM Written by 

One of the reasons Steel Market Update has constant contact with steel buyers and steel mills is because we are aware that pricing momentum can change on a rumor or a belief that supply or demand is shifting. We are seeing market sentiment being impacted by Section 232. At the same time, scrap prices are rising and steel buyers are being told to expect a new round of price increases. (Did the last one stick?)

This morning, we heard from the head of commercial for a domestic steel mill who told us, “Incidentally, for what it's worth, this week has been a very good week for us. The energy sector is active on HR, service centers are buying pickled and oiled [HRPO], metal builders are active on coated. [I am] going to be on the sidelines for a while to see what happens with alloys and steelmaking costs.”



ALREADY A SMU MEMBER? SIGN IN BELOW:

{loadposition ose_membership}

*Note: If you see your subscription information above, please renew or upgrade your membership to read the full article.

John Packard

John Packard is the President and Publisher of Steel Market Update. Since 1977, he has been an active participant in the flat rolled steel business in North America. His background provides the unique flavor and quality of Steel Market Update. John has held positions in the service center, steel mill and trading company segments of the flat rolled steel industry. John founded Steel Market Update, Inc. in August 2008. John can be reached via email at: John@SteelMarketUpdate.com or by phone: 800-432-3475.

Website: www.SteelMarketUpdate.com
You must be logged in to post a comment.