It May Not be Sexy But It's Got Legs...

Manufacturing companies are questioning the run up in steel prices with some wondering if now is a good time to pull back and wait out the market. SMU, with the help of a few of our manufacturing and service center sources, will try to put a historical perspective into the market in an effort to assist steel buyers in their evaluation of what to do next.

Steel Market Update received the following email on Friday, “Let’s talk about the legs this market has. When do you gurus of steel feel that we will see prices pull back. I was trying to buy for 2Q17, and I was quoted almost $180/ton slit and delivered over what I bought at when the market was at the bottom. I don’t think I am going to pull the trigger. I think that the domestic mills’ order books are filled with a long delayed restocking and buyers like [company name removed] will soon be content for the market to settle and wait for another buying opportunity. Your thoughts?”