Prices
May 26, 2020
SMU Price Ranges & Indices: Hot Roll Hits $500
Written by Brett Linton
Steel prices gained some strength across the board following the mills’ price increase announcements on flat rolled and plate products last week. The benchmark price for hot rolled has managed to get back to the $500 per ton mark, even as the market continues to struggle with shaky demand due to the coronavirus. The increases, ranging from $5 to $20 per ton, leave prices well short of the minimums of $540 for hot rolled and $740 for cold rolled and coated being sought by the mills. Whether the uptick in pricing has legs remains to be seen. In the meantime, Steel Market Update will keep its Price Momentum Indicator set at Neutral until the market establishes a clearer direction.
Here is how we see prices this week:
