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    October 4, 2022

    SMU's September at a Glance

    Written by Brett Linton

    Steel prices were steady to slightly down throughout the month of September, following declines seen in each of the four months prior. Hot-rolled prices averaged $780 per ton ($39.00 per cwt) the first week of September, falling to a low of $770 per ton in the third week of the month, and rising to $775 per ton as of last Tuesday. Recall that hot-rolled prices also reached the same low of $770 per ton in the middle of August. The SMU Price Momentum Indicator for flat-rolled products remained at Neutral since it’s adjustment on August 9th. Price Momentum on plate remained at Lower since our May revision.

    Raw material prices eased further last month. Scrap prices fell another $5-30 per gross ton from August, with busheling and shredded prices both averaging $405 per ton. Sources expect scrap prices to decline slightly again in October. Zinc and aluminum spot prices fell throughout September, with both products now nearing lows seldom seen in the last year. You can view and chart more multiple products using our interactive pricing tool here.

    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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