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    August 16, 2022

    Steel Buyers Respond to Price Increase Announcements

    Written by Brett Linton

    On Monday and Tuesday, SMU reached out to numerous steel buyers inquiring about market conditions this week. Sources were asked whether recently announced sheet price increases were sticking, and when they thought hot-rolled coil (HRC) prices might bottom out.

    The majority of the responses we received suggest that price increases are either partially sticking or are not holding up at all. The consensus on when prices might bottom out is mixed: roughly half of buyers believe the inflection point for HRC will occur in the next six weeks, the other half think it will be in the fourth quarter. Read on for a deeper look into the data and comments we received.

    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

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