SMU Data and Models
September 17, 2019
Steel Buyers Sitting on Hands, SMU Momentum Shifts to Lower
Written by John Packard
Service centers and manufacturing companies are telling Steel Market Update of softening demand, shortening lead times (may not be in the published numbers, but orders are coming out early), and negotiable pricing. Many buyers are sitting on their hands and only buying what they need. On top of this, SMU Service Center inventories appear to be balanced to slightly on the high side considering we are going into the slower side of the year, a traditional time to pare down inventories. The combination of these factors points toward lower spot prices on all flat rolled and plate steels over the next 30 days.
SMU Price Momentum Indicators Adjusted to Lower
