SMU's June at a Glance

Steel prices continued to erode in June, a trend that began halfway through April. Hot-rolled coil (HRC) prices ended June at $875 per ton (43.75 per cwt) on average, falling by $115 per ton throughout the month.

The SMU Price Momentum Indicator for sheet products remained shifted to Neutral halfway through June, after turning Lower during May. The momentum change at the time was due to repeated mill price hikes, that have yet to be confirmed as taking hold, though they have caused prices to temporarily stop falling. Price Momentum on plate shifted to Neutral at the end of April, remaining at that position throughout May and June as the market has yet to determine a clear direction.

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.