Final Thoughts
January 7, 2015
Final Thoughts
Written by John Packard
Steel buyers seem to be unanimous in their opinion of the current steel environment which I heard countless times today termed as “crazy.” Hot rolled buyers are telling SMU that the offers are starting in the $560-$580 range with the caveat “let’s talk” should the buyer actually have some decent tonnage to place. We have heard from buyers that AK Steel Dearborn has holes that they did not expect. Obviously any mill that had a strong order book with line pipe and OCTG providers is now suffering and looking for alternatives. We continue to have our SMU Price Momentum Indicator pointing toward lower prices over the next 30 days.
And what the frack is with the state of Texas and their earthquakes…?
