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    August 17, 2021

    SMU Price Ranges & Indices: Slope of Increases Flattening?

    Written by Brett Linton

    Flat rolled and plate steel prices were flat to up modestly this week as the year-long uptrend appears to be flattening somewhat. Hot rolled hit yet another historical high mark at $1,915 per ton, according to Steel Market Update’s check of the market this week, up another $15. It’s too soon to tell if prices are nearing a real inflection point or if this is just a sign of summer doldrums. Roughly 60% of the industry executives responding to SMU’s questionnaire on Monday and Tuesday believe hot rolled prices will peak at $2,000 per ton or more before beginning to correct in the fourth quarter or first quarter next year. SMU’s Price Momentum Indicators continue to point toward higher prices over the next 30 days.

    Hot Rolled Coil: SMU price range is $1,890-$1,940 per net ton ($94.50-$97.00/cwt) with an average of $1,915 per ton ($95.75/cwt) FOB mill, east of the Rockies. The lower end of our range increased $10 per ton compared to one week ago, while the upper end increased $20. Our overall average is up $15 per ton from last week. Our price momentum on hot rolled steel is Higher, meaning prices are expected to rise in the next 30 days.

    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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