Product
June 1, 2021
Hot Rolled Coil Tops $1,600 a Ton
Written by Brett Linton
Hot rolled steel prices passed another milestone this week, topping the $1,600 mark to set yet another record that would have been unimaginable at this time last year when HR was selling for around $500 a ton. Steel Market Update’s latest check of the market shows an average HR price of $1,620 per ton, up by $30 over last week. Cold rolled and coated products also jumped by another $30-40 per ton as the market gets back to business following the Memorial Day holiday and looks forward to what appears to be a promising summer ahead. Note that due to the limited transactions and data from the marketplace, we were conservative with our average on Galvalume, which may be somewhat higher. Plate prices were relatively unchanged. Despite prices that continue to rise week after week, buyers report little erosion in demand so far. SMU’s Price Momentum Indicators continue to point toward higher prices for all steel products in the next 30 days.
Here is how we see prices this week:
