Final Thoughts
September 16, 2020
Final Thoughts
Written by Tim Triplett
Nothing like a spike in steel prices to give the market a much needed attitude adjustment, one the mills and service centers can really use as the pandemic continues to weigh on day-to-day operations and individuals’ emotions. Steel prices have jumped by nearly $140 per ton in the last month. SMU’s Steel Buyers Sentiment Index, which measures how steel execs feel about their chances for success given the current market conditions, is back to levels prior to COVID and well above readings at this time last year.
Some folks are feeling better than others, of course. Those who stocked up in August find themselves with a big margin advantage in September. Yet almost two out of three of those responding to SMU’s questionnaire this week remain reluctant to add inventory. Here’s what a few of them had to say:
