SMU's December at a glance

Steel prices continued to move higher last month on the back of repeated mill price increases after tags reached a 2023 low of $645 per ton in late September. Hot-rolled coil (HRC) prices ended December at an average of $1,035 per ton ($51.75 per cwt), rising by $112 per ton during the month.

The SMU Price Momentum Indicator for sheet products continued pointing Higher throughout December after shifting from Lower in September. The trend remained in place as tags kept rallying in response to mill price hikes throughout the last month.

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.