Final Thoughts
June 15, 2021
Final Thoughts
Written by John Packard
The Art of Forecasting…
This week I saw another milestone drop that I never thought I would live to see. Galvanized base pricing out of a domestic mill at $100.00/cwt (seems like there is an extra digit there for some reason). I go back far enough to remember galvanized steel prices around $10.00/cwt…. For the cycle we are in, I don’t remember anyone who forecasted hot rolled steel prices above $1,100 per ton (never mind that today benchmark HRC prices are closer to $2,000 per ton than $1,100 per ton). What comes next is anyone’s guess, and I do not envy those who make a living out of forecasting steel prices.
