Steel Products Prices North America
October 8, 2013
SMU Price Ranges & Indices: Showtime
Written by John Packard
Buyers are telling Steel Market Update (SMU) that there have been some spot price offers which were held through the end of this past week. Most, however, are informing us that those mills who publicly announced new pricing are asking for increases and holding the line. We don’t doubt that there could be some orders placed at higher prices this week but we have not been able to find any companies willing to admit paying the top numbers.
Most buyers believe whether the mills will be able to collect some, or all, of the announced price increases will be better known in the next few weeks. Some believe the service center inventories are so low that they will not have any option but to buy steel within the next couple of weeks. Second, a number of mills with whom we have spoke are comfortable with their order book and willing to walk away from short term tons.
