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    December 23, 2020

    SMU Price Ranges & Indices: Flat Rolled Up Another $35-40

    Written by Brett Linton

    Steel Market Update has heard reports of buyers paying well over $1,000 a ton to secure much-needed hot roll, but the average from respondents to SMU’s poll this week puts the HR price at around $985 per ton (among those who have managed to find available steel). With demand persisting despite year-end seasonality and mill lead times continuing to extend, hot rolled prices are widely expected to surpass $1,000 in the coming weeks. As a point of reference, hot rolled hit a record high of $1,070 per ton in July 2008 (before plummeting to just $390 by May 2009 during the Great Recession). Overall, flat rolled steel prices rose by another $35-40 per ton in the past two weeks. Recent price hikes announced by the plate mills appear to be gaining traction as plate prices rose by an additional $25 per ton. SMU’s Price Momentum indicators continue to point toward higher steel prices over 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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