Final Thoughts
December 4, 2020
Final Thoughts
Written by John Packard
On Tuesday and Wednesday of this week, I will be an instructor at our Steel 101: Introduction to Steel Making and Market Fundamentals Workshop. We have a full class with a mixture of steel service centers, manufacturing companies, steel mills, traders, analysts, and suppliers to the industry. I am looking forwarding to discussing supply, demand, inventories, the government, and Black Swan Events. All these factors (and the subcategories underneath them) impact steel prices in different ways.
Stand up and notice: Nucor Tubulars’ price increase late last week was $100 per ton. My opinion is flat rolled spot buyers need to be prepared to pay much higher prices over the next 30 days. The SMU Price Momentum Indicator is pointing to higher prices on hot rolled, cold rolled, galvnaized, Galvalume and plate steels.
