SMU Price Ranges & Indices: Steel Prices Take a Swan Dive

Flat rolled prices took a steep dive lower this week as benchmark hot rolled dropped below $500 per ton for the first time since early November 2016. The spreads between hot rolled and cold rolled/coated products continue to be close to $200 per ton and even higher for Galvalume. We are collecting a small number of outlier data points below what we have referenced.

Steel buyers are beginning to think we are close to a bottom – especially on hot rolled, but that remains to be seen. The SMU Price Momentum Indicator is pointing to lower prices over the next 30 days on all flat rolled and plate products

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.

Brett Linton

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