Economy
July 2016 at a Glance
Written by Brett Linton
July 30, 2016
For the second month, SMU Price Momentum is at Neutral suggesting flat rolled steel prices will remain within a relatively tight trading range of plus or minus twenty dollars per ton over the next 30 days. We saw hot rolled prices only move $5 per ton during the month of July. Our average for the month came in at $618 per ton while the CME settlement number for the month was three dollars higher at $621 per ton. Platts was also higher averaging $625 per ton for the month.
Our Sentiment Index 3 Month Moving Average broke down during the month at +67.33. This was the first time Sentiment reverse course since December 2015.
The spread between hot rolled and cold rolled/coated products continues to be more than $200 per ton.
Here are a number of the key data points for you to review:
Brett Linton
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