Service Center Spot Prices Gaining Traction?

Last week Steel Market Update conducted our mid-November flat rolled and plate steel market analysis. We invited 480 individuals involved in manufacturing, service centers, steel mills, trading companies and toll processors to participate in our questionnaire. On purpose, the survey is heavily weighted to manufacturing companies and service centers since they purchase the vast majority of the flat rolled and plate steels consumed in North America. In this case, 46 percent of the respondents were service centers/wholesalers and 39 percent were manufacturing companies. The balance consisted of trading companies (7 percent), steel mills (5 percent) and toll processors (3 percent).

Last week’s survey had mixed results when we asked manufacturing companies and service centers to comment on their view of spot pricing out of the distributors.