Final Thoughts
December 1, 2014
Final Thoughts
Written by John Packard
A member of the financial community contacted me earlier today asking about rumors of a new price increase by the domestic steel mills as we move into January 2015. He stated that another steel-related publication had quoted a service center as believing price announcements would be coming soon.
First, I have not heard directly from any credible sources, with whom I have been speaking to over the past week, of steel mills beginning to warn their customers of a pending price announcement. The last announcement was on October 28th (AK Steel) or shortly thereafter and it shriveled up and died. As we mention in our pricing article above, prices have not crashed but the drift lower continues and momentum is for prices to continue to move lower.
