Final Thoughts
June 1, 2021
Final Thoughts
Written by John Packard
It has been a busy day trying to condense two days of data collection into one as we produce our flat rolled and plate indices for this evening. It should come as no surprise our numbers did track higher this week, and our Price Momentum Indicator continues to point toward higher prices over the next 30 days.
Capitulation is a word I heard today when speaking to a service center regarding the reaction of their end-user customers to the price of steel. “We are getting P.O.’s with no prices,” is what one executive told me. Right now, what is important is getting inventory and cost has in some respects (or to some companies) become irrelevant.
