Not much shake up this week…
HR: Up for second week in a row, but only a buck a ton/nickel a hundred weight…
CR: Drops $5/ton ($0.25/cwt)
GV: Also drops $5/ton ($0.25/cwt
So the price correction started around mid-July, three months ago….what has everything done?
HR fallen from high of $918/($45.90), so down $87/ton ($4.35)
CR fallen from high of 1,024 ($51.20) so down $101/ton ($5.05/cwt)
GV fallen from high of $1,107 ($55.35) so down $115/ton ($5.75/cwt)
So HR has shown the least erosion…
From January 1:
HR gone from $651/$32.55…net change now, up $180 ($9.00/cwt)
CR gone from $836/41.80….net change now, up $89 ($4.45/cwt)
GV gone from $900/$45.00…net change now, up $92 ($4.60/cwt)
HR obviously been the most stubborn commodity! Went up the most, and falling slower….
Additionally, as an aside, lead times have not extended to any appreciable level. Understanding that 2-3 week lead times will do nothing to support price increases. Rumors of holes in mill schedules as well as favorable foreign offerings leave all wondering what Q1/19 will look like. Stay tuned, it should be interesting.