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    September 28, 2021

    SMU Price Ranges & Indices: Hot Rolled Price Dips Again

    Written by Brett Linton

    It’s beginning to look like hot rolled steel prices will fall short of the $2,000 per ton ($100 per cwt) mark that many believed would be the peak. Steel Market Update’s check of the market on Monday and Tuesday shows the average hot rolled price decreasing for the third time in as many weeks to $1,920 per ton. If that downtrend continues, HRC will have topped out at an astounding high of $1,955 per ton reported by SMU on Sept. 7. That bests the previous 2008 high of $1,070 per ton by nearly $900 or 83%. Cold rolled and galvanized prices also declined this week, while Galvalume and plate increased. Due to the mixed messages the market is sending across the various products, SMU will keep its Price Momentum Indicators at Neutral this week.

    Hot Rolled Coil: SMU price range is $1,860-$1,980 per net ton ($93.00-$99.00/cwt) with an average of $1,920 per ton ($96.00/cwt) FOB mill, east of the Rockies. The lower end of our range declined $40 per ton compared to last week, while the upper end decreased $10. Our overall average is down $25 per ton from one week ago. Our price momentum on hot rolled steel will remain Neutral until the market establishes a clear direction.

    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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