SMU Data and Models
November 19, 2017
SMU Market Trends: Mill Price Increases Surprise Many
Written by Tim Triplett
Were you surprised by the price increases announced this week by the major mills? If you were, don’t feel bad. You were among the majority of steel buyers who could foresee no clear direction for steel prices.
On Monday, Steel Market Update sent its market trends questionnaire to 650 steel buyers asking, among other questions, “Where do you see the price direction right now?” On Wednesday, a number of the flat roll mills raised prices by $30 per ton. Earlier in the week, the plate mills led with a $40 per ton increase. The close timing of the questionnaire and the price hikes makes respondents’ comments particularly revealing.
