Steel Products
February 20, 2013
Written by John Packard
Flat rolled steel prices remained – well, flat – this week compared to one week ago. Steel Market Update (SMU) Price Momentum Indicator is now in its 12th week at Neutral as we watch flat rolled steel prices drift without any real pressure to move prices higher, or lower at this time.
Here is how we see spot prices this week:
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It has been a crazy 2024 so far for hot-rolled coil (HRC) futures!!! “It’s not crazy, it’s hot rolled.” This chart shows the steeply backwardated Midwest HRC futures curve on Jan. 3 plummeting between $186 to $241 in the front three months, evolving into the curve six weeks later on Feb. 12. CME hot-rolled coil […]
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Though steel prices continue to drop, more buyers are holding off on finalizing transactions.