SMU Data and Models
September 5, 2013
SMU MoMo Remains in Positive Territory for 14th Week
Written by Brett Linton
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. remained in positive territory this week for the 14th consecutive week. MoMo, a trailing indicator, is based upon the current hot rolled coil price weighed against the previous 12 week average spot price as recorded by Steel Market Update.
MoMo was measured at 1.57 percent this week, down from 1.92 percent last week. The 3-week average change in MoMo is -1.10 percent, a slight reverse of course after 10 weeks of consecutive declines. The graph below demonstrates the relationship between the SMU hot rolled coil price and the three week moving average change in MoMo. Our HRC price range for this week is $630/ton to $660/ton with an average price of $645/ton.
