Steel Mills
February 18, 2020
HARDI: Waiting for the Market to Find Direction
Written by Tim Triplett
While business activity remains fairly strong in February, distributors of galvanized products to the HVAC industry are waiting and watching for some indication of which way steel prices will move.
Steel Market Update is, too. SMU has moved its Price Momentum Indicator to Neutral until the market establishes a clear direction. Steel prices have softened in recent weeks after three months of increases prompted by a series of mill price announcements. Galvanized steel prices have slipped to around $770 per ton ($38.50/cwt) from a peak of $800 per ton ($40/cwt) in mid-January.
