Hot Rolled Coil Spot Prices Hit $1,300

Hot rolled steel prices reached another eyebrow-raising milestone this week, hitting an average of $1,300 per ton ($65/cwt), which is an all-time record even adjusting for inflation from the previous high of $1,070 per ton recorded by Steel Market Update in 2008. Flat rolled prices rose by an additional $10-30 per ton as the market sees no letup in demand, while steel supplies remain critically tight. The massive stimulus package passed by Congress last week can only fuel the economy, and steel demand, even further. 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.

Brett Linton

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