Steel Products Prices North America
January 7, 2014
SMU Ranges & Indices: Steel Prices Moving Again
Written by John Packard
This is the first “official” week of the New Year and all eyes are on the domestic mills to see if they can continue to hold the line – take that back – if they can break the stalemate we saw during the month of December and push flat rolled steel prices higher from here. That is what the industry is used to – higher prices during the first quarter. However, that is not what happened one year ago and no one is quite certain what will happen in the next few weeks. Let’s just say there is more than one opinion as some buyers feel prices have reached the zenith and we slip from here while others feel demand is good – much better than people realize – inventories are tight and prices have room to roam.
Steel Market Update is beginning the year where we left off – our SMU Price Momentum Indicator is pointing toward higher prices over the short term and we are left wondering if demand will keep up with supply.
