SMU Price Ranges & Indices: “Fluid” Pricing Up Substantially

Flat rolled and plate steel prices continue to be quite fluid based on the analysis of the data from Steel Market Update’s survey of the market this week, as well as individual channel checks with both buyers and sellers. By “fluid,” we mean we are capturing variances in prices over a short period of time. Prices that may have been available on Thursday and Friday of last week may well not be available this week.

Steel buyers report situations where the steel mills are either not quoting certain products or are allocating products (controlled order entry). One steel buyer earlier this week described a situation where their main supplier offered them tonnage at “X” price, but the price was only good for a few short hours. They managed to get the mill to agree to 24 hours and did place the tonnage.