HARDI Wholesalers Waiting for Demand to Catch Up

On Wednesday of this week HARDI hosted their monthly steel conference call. Steel Market Update participates in these calls which are dedicated to a better understanding of the galvanized steel market. The participants are wholesalers, service centers and manufacturing companies who either buy or sell galvanized sheet products used in the HVAC industry.

SMU advised that we had just moved our Price Momentum Indicator from Neutral to Lower. One of the steel service centers on the call was asked if they agreed with the SMU change in Momentum.  “I would say I am still in neutral camp, because we live in the [company name removed] world and the coated world.  And the conversations that we are engaged in right now at the mill level, again, there is firm position and support at these numbers [current price levels] and there is not a desperation to fill the order books.”