Final Thoughts
June 17, 2021
Final Thoughts
Written by John Packard
Flat rolled steel prices have been rising consistently for 45 straight weeks (since the week of Aug. 10, 2020). There is a chance (no guarantees) that we could see the cycle continue for a full 52+ weeks as the steel mills continue to have supply issues and demand remains quite strong in just about every market segment. The only weak link is energy, and with oil exceeding $70/barrel this too may soon change. SMU’s Price Momentum Indicator is still pointing toward higher flat rolled and plate steel prices.
For those who are struggling to buy steel, it’s just another week with the same old story – limited supply and higher prices.
