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    April 13, 2021

    SMU Price Ranges & Indices: “Simple Economics” Lead to High Prices

    Written by Brett Linton

    Commented one steel buyer: “No spot supply + strong demand + record-low service center inventories = higher prices. It’s simple economics.” True to that equation, flat rolled steel prices continued their weekly ascent, rising by another $30-35 per ton, according to Steel Market Update’s latest check of the market. The benchmark price for hot rolled has reached a new record of $1,370 per ton, $300 per ton more than the previous high reported by SMU in 2008. The trend is less clear for plate products, leaving the SMU price unchanged from last week. SMU’s Price Momentum Indicators continue to point toward higher steel prices over the next 30 days. Predicted another industry exec: “There is ZERO CHANCE we don’t see $1,400 per ton.”

    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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