Steel Products Prices North America
February 7, 2017
SMU Price Ranges & Indices: Looking for Orders
Written by John Packard
Steel buyers are telling Steel Market Update that there are a few steel mills “looking for orders” and that flat rolled steel prices are “somewhat negotiable with tons” but, otherwise, the steel mills are doing a good job of holding the line on prices. We have seen a couple of drops in pricing due to the lower end of our range getting nicked and a tightening of the spread between the low and the high numbers being asked in the marketplace.
One steel executive told us today, “Its getting a little weaker. We are being approached by mills we normally don’t do business with looking for tons. It is very unusual for prices to back off in early February.” He then went on to point out an observation that we have an article on in tonight’s newsletter, “Scrap appears to be firming back up.”
