Final Thoughts
November 8, 2017
Final Thoughts
Written by John Packard
The expectation, even among the naysayers, is there will be a bounce in flat rolled prices once lead times reach the end of December and into the New Year. The expectation is that the domestic steel mills will raise prices in the coming days. We have heard rumors that the first mill to move may come as early as next week.
One steel buyer told us that the first increase back in October was to put a bottom on the market and to then hold on until lead times get through the end of the year. With hot rolled lead times at three to six weeks, we are getting close. Cold rolled and coated lead times should be a week or two further out. Some of the mills are already sold out for the year. Others are getting close.
