Final Thoughts
October 25, 2019
Final Thoughts
Written by Tim Triplett
John Packard is traveling…
To almost no one’s surprise, the mills raised flat rolled prices by $40 a ton on Thursday and Friday in the hope of reversing the slide that has taken hot rolled as low as $470 a ton. Seven out of 10 steel buyers responding to SMU’s questionnaire last week said they were expecting a price increase soon. Now the market will be watching closely to see if the increase is going to stick. That’s no sure bet given the current shaky state of steel demand in some sectors.
