SMU Price Ranges & Indices: Bouncing Along the Bottom?

Steel Market Update’s check of the market over the past two days shows that nearly 70 percent of steel buyers believe prices are near a bottom, and the numbers support that view, showing little variation from last week. SMU puts the benchmark average price for hot rolled steel at $450 per ton, unchanged from last week. SMU’s Price Momentum Indicators remain at Neutral as this is a market that may be in transition.

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.

Brett Linton

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