Steel Products
February 25, 2013
SMU Price Momentum Indicator Enters 13th Week at Neutral
Written by John Packard
Split on Increase, Lead Times, Sentiment for Sideways Pricing – Market has Little Direction
Steel Market Update (SMU) continues to set a new record each week we hold our Price Momentum Indicator at Neutral. The longest previous record for a Neutral indication for market price direction was five weeks (back in late May/June 2011) for those who are keeping score. SMU is now entering our 13th consecutive week with our Price Momentum Indicator at Neutral – we are on shaky ground and a change could be coming soon – but for the moment we continued to remain at Neutral.
