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    September 7, 2021

    SMU Price Ranges & Indices: Market Still Has Momentum

    Written by Brett Linton

    Market momentum suggests that flat rolled steel prices are likely to continue moving up, at least in the short term, as hot rolled hit a new record high once again this week at an average of $1,955 per ton, up $20 over last week, according to SMU’s check of the market on Monday and Tuesday. Cold rolled and galvanized saw even bigger jumps. Buyers report that demand remains robust and supplies tight, with little or no spot tonnage available from steelmakers. Competition from lower priced steel imports arriving in the U.S. does not appear to have had much impact yet on domestic prices. As one exec commented: “The mills remain very much in control.” Added another: “It seems like there is some extra demand due to the very destructive Hurricane Ida.”

    Hot Rolled Coil: SMU price range is $1,910-$2,000 per net ton ($95.50-$100.00/cwt) with an average of $1,955 per ton ($97.75/cwt) FOB mill, east of the Rockies. The lower end of our range increased $40 per ton compared to last week, while the upper end remained unchanged. Our overall average is up $20 per ton from one week ago. 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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