The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. remained in positive territory this week for the 13th consecutive week. MoMo, a trailing indicator, is based upon the current hot rolled coil price weighed against the previous 12 week average spot price as recorded by Steel Market Update.
MoMo was measured at 1.92 percent this week, down from 3.83 percent last week. The 3-week average change in MoMo is -1.12 percent, a decline for the 9th consecutive week. The graph below demonstrates the relationship between the SMU hot rolled coil price and the three week moving average change in MoMo. Our HRC price range for this week is $625/ton to $660/ton with an average price of $642.5/ton.
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