Final Thoughts

There have been $120 per ton ($6.00/cwt) of flat rolled price increases going back to late June. Nucor announced the first plate price increase late on Friday afternoon. That increase is $40 per ton. I heard from a couple of plate service centers who basically said, “It’s about time.” I guess those distributors will support the increase. We will see if the greater market does. We have moved our Plate Price Momentum Indicator to Neutral from Lower, which is normal for SMU as we wait to see if the market does indeed accept a change in price direction. I will advise as soon as we get a handle on the market reaction and the mills’ ability to collect higher prices.

I will be traveling later this week to Minnesota and then to Atlanta to prepare for the 2019 SMU Steel Summit Conference. I will be in the office on Monday and Tuesday should you have any questions about how to make a nomination for the 2019 SMU NexGen Leadership Award or anything else…