• Skip to main content

    Market Data

    March 3, 2022

    SMU's February at a Glance

    Written by Brett Linton

    February marked month six of declining steel prices, following a 12-month streak of continuous price increases. Hot rolled prices declined $215 per ton throughout the month, with the SMU index averaging $1,020 per ton at the end of February (recall our HR average this week declined another $20 to $1,000 per ton). The SMU Price Momentum Indicator for sheet products was adjusted to Neutral in the fourth week of February, which had previously been pointing Lower since mid-October. Plate price momentum remains at Neutral, as has been the case since Septemer last year.

    February scrap prices were relatively stable, within $10 per ton of January prices. Click here to view and compare prices using our interactive pricing tool.

    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.

    Read more from Brett Linton

    Latest in Market Data

    Apparent steel supply remains historically strong through August

    The volume of finished steel that entered the US market increased 1% from July to August to the second-highest monthly level recorded in the past four years, according to SMU’s analysis of recently released Department of Commerce and American Iron and Steel Institute data. Apparent steel supply is calculated by combining domestic mill shipments and finished US steel imports, then subtracting total US exports. It can be used as a proxy for domestic steel demand. Supply has remained historically strong since May, when it surpassed the 9 million st mark it had previously been beneath for four years.

    US shipments of heating and cooling equipment slow further in August

    Total shipments of heating and cooling equipment cooled further in August, according to the latest figures from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). After falling 11% month on month (m/m) in July, shipments slipped another 10% in August. The monthly pace marks the third-slowest shipment rate year-to-date. Shipments of water heaters, air conditioners, and heat pumps declined m/m, while warm-air furnace shipments picked up. Compared with a year earlier, only air conditioners and heat pumps increased.