Steel Products Prices North America
April 25, 2017
SMU Price Ranges & Indices: Moving Lower from Here?
Written by John Packard
We have an unusual market. What Steel Market Update is seeing is confidence by most of the steel mills. They feel there may be some minor adjustments in spot pricing as a few mills jockey to maintain their order books. At the same time, most steel buyers are being supportive of the price levels we are reporting this week as potentially being the bottom of the market. We are hearing from others buyers that we should anticipate as much as a $50 summer adjustment lower to be followed by another $50 adjustment at the end of the calendar year (November & December).
One mill told me today, “Still getting orders at same prices. My expectation is for decrease BUT if people are buying I am not going to hurry and cut anything. Again, you know i am an optimist on the trade front and I think that later this summer things could tighten up again. Price erosion for short term and potentially followed by firmer than expected numbers due to certain catalysts.”
