Final Thoughts
January 27, 2020
Final Thoughts
Written by John Packard
Tap, tap, tap… the sound of fingers drumming on a stack of blank purchase orders. Today I spoke with a group of key steel buyers and many of them are sitting and waiting. They are waiting because they have no tons to place, they are waiting because service center resale prices have not caught up to replacement cost, they are sitting and waiting because their inventories are fat, they are sitting and waiting because they are confused as to what is going on with this market.
Don’t get me wrong, there were spot orders placed this week at numbers very similar to those reported last week.
