Market Data
January 28, 2015
SMU Price MoMo Index Shows Acceleration in Downward Price Movement
Written by Brett Linton
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. indicates hot rolled coil price momentum continued its downward trend for the 23rd week in a row and is at the lowest level recorded since May 2011. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current hot rolled coil (HRC) price movements against the previous 12-week average spot price as recorded by Steel Market Update. MoMo was measured at -10.06 percent this week, meaning that the current HRC price is lower than the average price over the last 12 weeks.
At -10.06 percent, the pace of the negative price movement for hot rolled steel has accelerated as compared to previous weeks.
