Market Data
August 19, 2015
SMU HR Price MoMo Index Moving in Negative Territory
Written by Brett Linton
The Steel Market Update (SMU) Price MoMo Index for hot rolled steel in the United States has now dropped down into negative territory after bouncing around zero percent for the last four weeks. MoMo, a trailing indicator, is measured as a percentage and shows the relation of the current U.S. hot rolled coil (HRC) price movements against the previous 12-week average spot price as recorded by Steel Market Update. A positive MoMo index indicates hot rolled steel prices are increasing, while a negative index indicates a decline in prices.
MoMo should not be confused with the SMU Price Momentum Indicator which is a forward looking indicator and is currently pointing toward neutral pricing over the next 30 to 60 days.
