Economy
May 19, 2017
Bits 'N Pieces
Written by John Packard
Steel Market Update (SMU) had a number of conversations with steel buyers late last week during our trip to Chicago. Benchmark hot rolled prices offers have slipped below $600 per ton with one service center executive discussing a spot offer of $560 per ton coming from one mill (and complaining that they lost of the order by $20 per ton).
The Section 232 investigation is creating a tremendous amount of angst among the trading community and steel buyers in general. The mood at the Metals Industry Boy Scout Dinner was subdued as buyers and sellers of steel tried to get a handle on what was happening to the industry. Uncertainty is not good for making decisions.
