Market Data
September 5, 2019
August at a Glance
Written by Brett Linton
Despite slight upward momentum in steel pricing in August, steel buyers’ sentiment languished in the +40s on SMU’s index. This tepid optimism likely reflects widespread concerns in the market about steel demand in the second half and the staying power of steel prices following the recent increases announced by the mills.
The average price for hot rolled ($538), cold rolled ($748) and galvanized ($841) steels in August represented an increase of just 5-6 percent in the past two months, disappointing mills and service centers hoping for a bigger boost to their profitability.
