-Demand continues to impress, but producers seem intent on outpacing it.  This dual move has created a temporary domestic equilibrium. 

-Mill lead times have largely stopped moving out, but ready tons are almost non-existent for those that need steel now. 

-We know the imports are coming, but not for weeks.  We know more steel capacity is being brought on-line (RG Sparrow’s Point and ArcelorMittal Cleveland West Side), but we will have to wait for those tons, too.  Service Center inventories have crept up, also. 

-European markets have stopped their declines.  The overseas mills have curtailed production, which could lead to an uptick in pricing.  This should serve to narrow the yawning gap that is North American band pricing and that of the rest of the world. 

-The Euro remaining under 1.30/ $, and a relatively quiet world scrap market assure headwinds remain in place for near term price spikes.

-The futures curve continues its downward trend confirming trouble may be coming—just not this week.  And so the $ 740/ st price remains for another week.