Prices
January 19, 2021
SMU Price Ranges & Indices: Mills Keep the Pedal to the Metal
Written by Brett Linton
Steel prices seem to be changing by the minute, and so far always in an upward direction. What’s the going price for hot rolled? “Who knows? Ask me again after lunch,” quipped one respondent to Steel Market Update’s check of the market this week. SMU estimates the current average price for HRC is at a new record high of $1,130 per ton, though we heard reports of transactions in excess of $1,300. In general, flat rolled and plate steel prices jumped by another $50-110 per ton as demand continues to outpace supplies and the mills keep the pedal to the metal. SMU’s Price Momentum Indicators continue to point toward higher steel prices over the next 30-60 days.
Here is how we see prices this week:
