Steel Products Prices North America
Steel Prices Return to December 2014 Levels
Written by John Packard
May 12, 2016
This week the benchmark hot rolled steel price average was reported by Steel Market Update at $610 per ton, up $40 per ton over the previous week and $120 per ton higher than just one month ago. The numbers reported this week are the highs for this calendar year and, are also the 52 week highs.
The next price level we are watching is the 2014 HRC price high water mark which was $685 per ton reported the first week of May 2014.
Buyers are concerned with the steepness of the rise in prices. In five months the domestic steel mills have been able to return to price levels not seen since December 16, 2014.
With SMU Price Momentum Indicator clearly pointing toward higher prices over the next 30 days we anticipate that we could come to challenge the $685 2014 high within the next 30 to 60 days.
John Packard
Read more from John PackardLatest in Steel Products Prices North America
SMU price ranges: Flat-rolled balloon continues to leak
Sheet and plate prices were flat or lower again this week on continued concerns about demand and higher production rates among US mills.
HRC vs. busheling spread narrows in August
The price spread between prime scrap and hot-rolled coil (HRC) narrowed in August, according to SMU’s most recent pricing data.
SMU Price Ranges: Market drifts lower still
All five of SMU's steel sheet and plate price indices declined this week, falling to lows last seen in February.
Discontentment brews in plate market with flat, status-quo pricing
Sources in the carbon and alloy steel plate market said they are less discouraged by market uncertainty resulting from tariffs or foreign relations, but are instead, eager to see disruption to the flat pricing environment.
Nucor lowers HR coil spot price by $15/ton
Nucor has implemented a double-digit price decrease on spot hot-rolled (HR) coil for the second consecutive week.