Economy
November 1, 2016
A Closer Look at October 2016
Written by John Packard
Steel Market Update (SMU) reported a shift in steel pricing “Momentum” at the end of October as our Steel Price Momentum Indicator was adjusted first to Neutral and then to Higher. Our expectation is for domestic flat rolled steel prices to increase over the next 30-60 days.
Sentiment, however, has been trending lower with our three month moving average (3MMA) now lower for the second month in a row. It will be interesting to see if higher steel prices will result in a more optimistic steel community.
