Final Thoughts
July 19, 2017
Final Thoughts
Written by John Packard
This is an over-whelming time to be involved with the steel industry. We have the steel mills announcing price increases at a time when prices normally are flat to lower (they have been running flat to mixed over the past few weeks). The market anxiety is at high ebb as steel buyers and sellers wait for a decision to be made on Section 232. SMU has seen reports that the announcement could come in a speech in Youngstown next week. Other reports are saying it could be as late as Labor Day (right around the time of our conference).
Many of the buyers SMU spoke with today felt the increases were nothing more than trying to keep the market from slipping further. We were told that if Section 232 does not come out next week and instead waits until the end of August or early September mill prices could weaken.
