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    November 4, 2020

    SMU Price Ranges & Indices: Hot Rolled Reaches $700

    Written by Brett Linton

    Steel Market Update’s check of the market this week puts the average price for hot rolled steel at $700 per ton, a psychological milestone for the steel sector as the economy continues to make progress from the severe early effects of the COVID pandemic. This marks the 12th week in a row that flat rolled steel prices have risen as a result of improving demand and persistently tight steel supplies. How much longer the uptrend will continue depends on how soon the mills bring more capacity to the market. Meanwhile, OEM and service center execs tell SMU demand continues to surprise to the upside. SMU’s Price Momentum Indicator is pointing toward even higher flat rolled prices in 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.

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