SMU's December At-a-Glance

Strong demand and tight supply pushed steel prices upwards throughout December, with hot rolled prices nearing quadruple digits as 2020 came to a close. Steel Market Update’s hot rolled price index reached $985 per ton by the end of December, up $180 per ton or 22 percent from the beginning of the month. The SMU Pricing Momentum Indicator remained at Higher, indicating prices are expected to rise further over the next 30 days. Scrap prices increased by $80-100 per ton compared to the month prior, while zinc prices remained relatively steady and aluminum prices declined by 2 percent.

The SMU Buyers Sentiment Index remained optimistic, slightly declining to +61 as of late-December. The three-month moving average reached +64.67 as of Dec. 23, the highest reading since October 2018.

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.