SMU Data and Models
October 19, 2017
Price Increase Announcements Lead to SMU Price Momentum Change
Written by John Packard
On Tuesday of this week, ArcelorMittal USA announced new “minimum” base pricing on hot rolled, cold rolled and galvanized products. On Wednesday, Nucor and North Star BlueScope followed with increase announcements of their own of $40 per ton ($2.00/cwt). This morning (Thursday), NLMK USA emailed a letter to their customers advising of their intention to follow the Nucor/NS BlueScope lead as they raised their spot base pricing by $40 per ton.
SMU Price Momentum Indicator Adjusted to Neutral
