Product
July 20, 2021
SMU Steel Price Ranges & Indices: Hot Rolled Hits $1850
Written by Brett Linton
Flat-rolled steel prices continue to shoot upward – with no signs of the summer doldrums, the chip shortage or fears of a correction blunting their momentum. U.S hot-rolled rolled coil prices now stand at $1,850 per ton ($92.50 per cwt), up $30 per ton from a week ago. Cold-rolled coil and galvanized base prices notched similar gains and now average $2,060 per ton ($103 per cwt). With lead times long, inventories lean and no new capacity coming until the fourth quarter, most market participants contacted by Steel Market Update don’t see prices slipping anytime soon. “They’re not even negotiating what tons we can get, let alone pricing. The mills definitely have the upper hand,” one respondent to our survey said. Reflecting such sentiment, SMU’s Price Momentum indicator continues to point toward higher prices for all steel products over the next 30 days.
Here is how we see prices this week:
