Steel Products
February 11, 2013
SMU Price Momentum Indicator Remains at Neutral
Written by John Packard
Written by: John Packard
Steel Market Update did not move our Price Momentum Indicator out of Neutral where we have been “stuck” for the past 10 – now going on 11 weeks. The market lacks clear direction – or maybe a better way to view it is the market lacks personality. This is perhaps best represented with a graphic pulled from SMU surveys taken over the past couple of months where we ask buyers and sellers about the direction they believe steel prices will be headed over the coming thirty day period:
