Steel Products

SMU Comparison Price Indices: Big Drop

Written by John Packard

The indices watched by Steel Market Update (SMU) tumbled this past week as benchmark hot rolled averages were at, or below $600 per ton in three of the five indexes. We saw many indices dropping by double digits prior to the U.S. Steel pricing announcement. It is normal for prices to move lower the week after a price announcement as buyers take advantage of open offers prior to being withdrawn.

Note: Galvanized is based on .060” G90 and Galvalume is .0142” AZ50, Grade 80.

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