SMU Data and Models
January 25, 2017
SMU Price Momentum Indicator Pointing to Higher Prices
Written by John Packard
SMU Price Momentum Indicator has been pointing to Higher flat rolled steel prices since late October (12 weeks). Based on our analysis of last week’s steel market trends survey as well as direct contact with buyers today, SMU Price Momentum has not changed and our expectation is for prices to move higher over the next 30 days.
Our view is not held by everyone in the industry, but we do not have enough actual price data to suggest Momentum has changed and lower prices are being offered to any great degree on hot rolled, cold rolled and coated steels.
