Economy
July 2, 2017
June at a Glance
Written by John Packard
We ended the month of June with a change in our Price Momentum Indicator from Neutral (we had moved from lower to Neutral earlier in the month) to Higher. With the expectation of Section 232 being implemented by President Trump, we feel prices have only one way to go, up. How long that will last is going to be the question as we move into July.
One of the reasons we have some concerns is due to our Steel Buyers Sentiment Index, which has been sliding over the past three months, as seen in the data shown in our table for June below. Both as single data points and our three-month moving average, Sentiment has been dropping, albeit from record high levels. This will need to be watched in July.
