SMU Data and Models
September 24, 2017
Ten Reasons Why SMU Price Momentum Indicator Adjusted to “Lower”
Written by John Packard
On Friday, Steel Market Update (SMU) adjusted our Price Momentum Indicator to Lower from Neutral. It is our opinion that flat rolled steel prices will move lower over the next 30 days for the following 10 reasons:
First, when the head of commercial of a domestic steel mill tells SMU that “transaction pricing cannot go up now…” due to resistance from their customers, that is not a positive sign for higher steel prices.
