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    Analysis

    February 7, 2023

    SMU Price Ranges: Another Week of Gains as Q1 Rally Continues

    Written by Michael Cowden

    Sheet prices continue to rise, extending a rally that began the week after Thanksgiving. SMU’s hot-rolled coil price is now above $800 per ton ($40 per cwt) for the first time since early August, roughly six months ago.

    At $810 per ton on average, HRC prices are up $30 per ton from $780 per ton last week. They are also nearly $200 per ton above a 2022 low of $615 per ton recorded in mid-November.

    Michael Cowden

    Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

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