Steel Products Prices North America
October 24, 2017
SMU Price Ranges & Indices: Probably the Bottom
Written by John Packard
It has only been one week since ArcelorMittal USA increased flat rolled steel prices. As the week progressed, it became obvious that steel mills were reacting to the price announcements in different ways. We heard from steel buyers that some mills withdrew open quoted pricing and repriced at new levels at least $40 per ton higher. Other steel buyers advised their suppliers have not increased prices and were taking orders at prices being quoted prior to the AMUSA announcement through the end of the week.
The SMU Price Momentum Indicator continues to be Neutral. This suggests that we are not yet sure how prices will trend over the coming days – although our expectation is we will see slightly higher prices, especially as lead times slip into the New Year.
