SMU Price Ranges & Indices: Spreads Widen

Large steel buyers with whom Steel Market Update had direct contact with over the past few working days paint a picture of the domestic mills still uncomfortable leading on pricing. Although that may be changing as word starts to spread on the newest scrap pricing.

We saw a widening of the range on hot rolled which one large HR buyer told SMU was related to the glut of plate available in the market right now. “The global oversupply of plate has put SSAB, Evraz, Nucor/Tusk, and the other Steckel mills back in the HRC market.”