Prices
October 8, 2017
SMU Adjusts Lower End of Hot Rolled Pricing
Written by John Packard
On Tuesday of this past week, Steel Market Update (SMU) advised our readers that our range on hot rolled pricing was $580-$630 per ton with an average of $605 per ton ($30.25/cwt). As the week progressed, we received more information that has caused us to drop the lower end of our range to $560 per ton ($28.00/cwt) and our average is now $595 per ton ($29.75/cwt) based on our new range being $560 to $630 per ton.
The SMU Price Momentum Indicator continues to point toward lower prices over the next 30 days.
We will review all flat rolled and plate products again on Monday and Tuesday of this coming week to determine if there is further movement in HRC, CRC, galvanized, Galvalume and discrete plate pricing.
