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    Analysis

    December 3, 2023

    Final thoughts

    Written by David Schollaert

    It’s no surprise why spot prices are on the rise: Mills have been announcing higher flat-rolled tags for the better part of the past three months, according to our steel mill price increase calendar.

    A leading cause of the $305-per-ton rally since prices reached a recent bottom of $645 per ton in late September has been a combination of extending lead times (helped by maintenance outages and idlings) and limited spot availability. That dynamic has squeezed the spot market even more with limited tonnages available for December.

    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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