Final Thoughts
November 20, 2019
Final Thoughts
Written by John Packard
So, tonight I thought I would write about a couple of text messages that I received over the past 24 hours. Both messages have to do with steel prices, just looking at information out of SMU and other publications or indices differently.
The first message was from the president of a Midwest-based service center. They were (are) disturbed with the wide variety of hot rolled price averages being referenced in the market. I was told in the first message, “What a pricing mess… You [SMU] are at $26.75/cwt [$535 per ton], Platts is $26.25/cwt [$525 per ton], AMM is at $27.00/cwt [$540 per ton] and your big brother [CRU] posts $25.00 [$500]. How can one call a market with such absurdity[?]”
