SMU Price Ranges & Indices: Flat Rolled Up Another $30-40/Ton

Steel prices simply continue to move higher—as do the anxiety levels of many service center and manufacturing executives. Hot rolled steel set yet another record this week, according to Steel Market Update’s check of the market, reaching an average of $1,270 per ton, topping the previous high mark set in 2008 by $200 per ton.

“This is crazy. I’ll tell you one thing, my customers can’t stay in business at these price levels. We’re having a hard time passing on the increases,” said one manufacturer in the Midwest. “Restricted supply with the current demand makes pricing anyone’s guess. There is nothing there to stop the madness, although we are reaching a critical cost/affordability point with customers. It could force some customers out of the game,” said a service center executive.