SMU Price Ranges & Indices: Prices Weaken

We saw further weakening in pricing this week, based on the active flat rolled and plate steel market trends questionnaire which began on Monday. We did see evidence of pressure on prices from a number of different areas. From the service centers, we saw reports of hot rolled at $500 per ton. However, we do not report those numbers in this evening’s range as the bulk of the numbers from both service centers and manufacturing companies was in the $530 to $570 range. However, as we reported last week, there does seem to be pressure on the mills to take prices down to the lowest levels seen earlier this year. We saw lower than reported prices on galvanized, as well. However, those were sporadic and we need further investigation before we feel comfortable putting them in our range. Our Price Momentum Indicator on all products is pointing to lower pricing over the next 30 days.

Here is how we see prices this week:

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.