Steel Products Prices North America
June 2, 2016
The Sky is NOT Falling... (at least not yet)
Written by John Packard
Late this afternoon one of our readers forwarded to us an article from one of the other steel periodicals referencing foreign steel prices as “falling fast.” Steel Market Update’s perspective (and those from our steel trading sources) is different than what another periodical may be reporting. We believe that one must look at the bigger picture before we tell the market that the sky is falling. We spoke with a number of trading companies after 5 PM this afternoon in order to get the most up to date information possible.
When evaluating the market and especially foreign steel import market pricing, Steel Market Update (SMU) is careful to throw out the outliers. Outliers are those foreign steel mills or trading companies that have a small amount of steel to sell, quality is suspect or are testing the market. As one trading executive put it to us this afternoon, “It is much more important what US Steel does with Granite City than worrying about a few import tons.”
