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    January 18, 2022

    SMU Price Ranges & Indices: The Downtrend Continues

    Written by Brett Linton

    Steel Market Update’s check of the market this week shows a few hot rolled transactions at prices below $1,400 per ton ($70 per cwt) as flat-rolled steel prices continue their correction from record highs last year. The average price for HRC dropped by another $55 per ton in the past week to $1,425 per ton. Prices for coated products also saw double-digit declines. Cold rolled and plate prices were relatively flat, based on SMU’s sample of the market on Monday and Tuesday. The four-month trend of weakening steel prices would be more alarming were it not for a general consensus that steel demand remains relatively healthy in the first quarter. SMU’s price momentum indicators are pointing Lower for all flat-rolled products, which are expected to see further declines in the next 30 days. SMU’s Momentum Indicator on plate remains at Neutral until the market establishes a clearer direction.

    Hot Rolled Coil: SMU price range is $1,350-$1,500 per net ton ($67.50-$75.00/cwt) with an average of $1,425 per ton ($71.25/cwt) FOB mill, east of the Rockies. The lower end of our range decreased $50 per ton compared to one week ago, while the upper end declined $60 per ton. Our overall average is down $55 per ton from last week. Our price momentum on hot rolled steel is at Lower, meaning we expect prices to decrease over 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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