Steel Products Prices North America
October 6, 2013
SMU Survey Results Skeptical of Latest Price Announcements
Written by John Packard
Steel Market Update (SMU) began our most recent survey on Monday morning of this past week. Shortly after our survey began the domestic mills announced price increases. As the week progressed more announcements were made. None-the-less, our survey respondents did not seem to believe flat rolled steel prices will rise over the next few weeks. When asked where benchmark hot rolled pricing would be when we reach November 1st the responses ranged from $560 per ton on the low end to a high of $680 per ton (the announced increase level). Over 50 percent of the responses where right within the current range published by SMU on Tuesday of this past week – $620 to $650 per ton (64 percent).
The average of all the responses was $631 per ton.
