SMU Data and Models
December 6, 2015
Steel Price Momentum Shifting? SMU Price Momentum Indicator Moved to Neutral
Written by John Packard
On Friday of this past week Steel Market Update (SMU) adjusted our Price Momentum Indicator from Lower to Neutral. This move is being made as we are seeing more evidence of the domestic steel mills taking a stand and either raising spot prices (especially on coated steels) or refusing to go any lower.
As one steel buyer put it to SMU this morning, “The domestic mills are beginning to close their purse strings.”
