Steel Products
January 18, 2013
Final Thoughts
Written by John Packard
Three mills are out this week attempting to dump steel quickly in the marketplace at $560-$580 per ton. The lead mill is known to do this just prior to announcing a price increase. SMU is being told the mills are asking for large block tons of hot rolled in order to book at these levels. Whether or not they are getting any takers is up for discussion – I guess if we get an announcement in a day or two then the lead mill was successful in getting their mill filled.
The steel analysts have been pushing the steel mills to announce a price increase. I have seen a number of analysts from Timna Tanners to Sal Tharani making statements to their clients that a price increase should not come as a surprise.
