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    Analysis

    June 8, 2023

    Final Thoughts

    Written by David Schollaert

    Domestic hot band prices are rolling downhill at a rate that looks to be accelerating. As SMU managing editor Michael Cowden pointed out in Tuesday night’s Final Thoughts, present dynamics are eerily like what we saw last summer. And we all know where that led us: to a low of $615 per ton ($30.75 per cwt) on average for hot-rolled coil (HRC) by Thanksgiving.

    But in many ways, it’s not much of a surprise that flat-rolled prices are declining, especially at the current rate. Several other markers we track are trending down, and have been doing so for the better part of the past few months.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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