Final Thoughts
November 16, 2020
Final Thoughts
Written by John Packard
The Perfect Storm:
Long lead times, late deliveries, low service center inventories, strong demand, higher prices, lack of foreign steel imports, mill outages both planned and unplanned, maximum capacity utilization rates at a number of mills, NLMK USA strike, higher ferrous scrap prices that are expected to go much higher in the coming months, restrictions on Brazilian slabs…. The net result is business is tight, buyers are concerned about buying steel over the next few months, and the expectation is for prices to continue rising.
