SMU Data and Models
December 5, 2017
SMU Price Momentum Indicator Adjusted to Higher
Written by John Packard
Steel Market Update adjusted our Price Momentum Indicator to Higher from Neutral earlier today. It is our opinion that flat rolled steel prices will rise over the next 30 to 60 days. We last adjusted Momentum on Oct. 18, 2017, when we moved from “Lower” to “Neutral.”
We are hearing from buyers and sellers of flat rolled steel that they expect to see higher prices in the coming weeks. They are expecting good demand in the first quarter, which is where the domestic mill lead times are right now.
