Steel Products
February 6, 2013
SMU Price Momentum Indicator Remains at Neutral for 10th Week
Written by John Packard
Even as prices “firm” a bit from where they were one week ago, our SMU Price Momentum Indicator remains stuck in Neutral for the 10th consecutive week due to the following factors.
We always prefer to give the domestic mills an opportunity to sell their price increases into the marketplace, so we automatically move to a neutral rating when the mills announce a price increase until such time it is obvious they have succeeded in moving prices higher or have failed to do so.
