Final Thoughts
October 2, 2013
Final Thoughts
Written by John Packard
I made a decision many years ago that when the domestic steel industry (multiple mills) announced price increases that I would automatically move the SMU Price Momentum Indicator to Neutral. Since we are already at Neutral it is important to understand that at this point prices could move up, down or absolutely nowhere from where they are at this moment.
There is a portion of the industry which supports higher prices 100 percent. Another portion who believes – strongly – that market fundamentals will ultimately come home to roost and it is only a matter of time before prices tank.
