New York City Bits 'N Pieces

Here are some of the comments made to SMU over the past few days both in New York City and upon our return to our offices.

Regarding scrap prices, one of our sources was telling us that the domestic steel mills are making a mistake by attempting to push ferrous scrap prices lower, especially when the spread between scrap and hot rolled coil could very well be at historical highs. The process of pushing scrap lower leads to conflicts between steel mills and their customers over pricing. Right now the mills have their cake and greed may lead to unintended consequences…