Economy
October 2, 2013
September Data at a Glance
Written by John Packard
September ended with the SMU Price Momentum Indicator pointing toward Neutral. In light of the price increase announcements beginning to come out of the domestic steel mills we will continue our Neutral position allowing all the mills to announce (or not) and buyers to react before making a change toward one direction or another.
SMU Steel Buyers Sentiment Index continued to be firmly set in the optimistic range of our index.
On the pricing front hot rolled, cold rolled, galvanized and Galvalume pricing we down slightly from the August monthly average. Benchmark hot rolled averaged $641 per ton based on our data collection. The CRU index settled the month at $645 per ton +$4 above our number.
