Steel Products Prices North America
July 5, 2016
SMU Price Ranges & Indices: Inquire Only Disappearing as Prices Move Sideways
Written by John Packard
Flat rolled prices were relatively flat for yet another week as the 4th of July holiday kept buyers and sellers thinking of something other than buying and selling steel. Steel Market Update is picking up signs of slowing order books at a number of mills as the number of “inquire only” products begins to dwindle and mills that were once on allocation have tonnage to sell. We are hearing that there are mills that still have July tons available and a number that are in early August for lead times on hot rolled.
Hot rolled is obviously the weakest product. Over the past few weeks we have seen the mills go from allocation or inquire only on HRC to having lead times as short as two to three weeks, according to those who have already responded to this week’s flat rolled steel survey. We will have much more about lead times in Thursday evening’s edition of this newsletter.
