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    February 9, 2021

    SMU Price Ranges & Indices: Hot Rolled Hits $1,180 Per Ton

    Written by Brett Linton

    Despite all the speculation about an impending peak, Steel Market Update’s check of the market this week shows steel prices continuing to rise. SMU puts the current average HR price at a new high of $1,180 per ton, the fifth new high-water mark since the second week of January when the spot market surpassed the prior record of $1,070 per ton published by SMU in 2008. The HR price saw a $30 jump after stepping up by a modest $10 per ton in each of the prior two weeks. Prices for cold rolled and coated products, as well as plate, recorded substantial increases of $40-70 as well. SMU’s Price Momentum Indicator continues to point toward higher prices over the near term. However, we advise steel buyers to be aware that momentum can change quickly. We understand there are foreign offers into U.S. ports at attractive prices, which may well put a floor on domestic prices in those geographical regions of the country. Watch lead times and order receipts very carefully in the coming weeks on all flat rolled and plate products.

    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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