Prices
May 5, 2020
SMU Price Ranges & Indices: Market’s in Transition
Written by Brett Linton
The prices we reference this evening reflect orders being placed this week, as well as the prices being quoted by the mills to their customers. It is important that our readers understand there was a flurry of activity last week at numbers at, or below, the low end of our range. We discussed with one steel mill on Friday orders having been taken at, or slightly below, the CRU number published last week. We are also aware of coated orders in the $30.00/cwt-$32.00/cwt range, which are below the numbers we reference this evening.
The market changed late last week. The domestic steel mills raised prices $40 to $60 per ton (more if you were able to buy at the bottom of the market). For now, mills appear to be firm, but with short lead times this could change in the coming weeks.
