Steel Products Prices North America
February 23, 2016
SMU Price Ranges & Indices: No Change
Written by John Packard
Steel Market Update asked steel buyers how they were seeing the flat rolled steel market so far this week. One large Midwest based service center told us, “Eerily quiet.” Other buyers basically provided the same guidance. Hot rolled order books continue to be weak to moderate while cold rolled and coated lead times are extended at most mills. At this point, no one seems to overly concerned about the mill order books, lead times or the potential for higher flat rolled steel prices. Many buyers (not all) are convinced the market is “range bound” and destined to stay that way for much of the first half 2016.
However, history tells us that “range bound” markets tend to be few and far between…
