SMU Price Ranges & Indices: Gradual Move Higher

Steel buyers advised Steel Market Update that there has been very little movement in flat rolled steel prices this week. We did make a correction to the range on galvanized coils adjusting the lower end of the range to $38.50/cwt based on the data we collected directly from buyers this week. We also saw small adjustments on hot rolled and Galvalume.

Buyers advised Steel Market Update that there has been very little discussion from “legitimate” commercial sources at the domestic steel mills regarding price increases. A number of the larger buyers believe that the mills will bide their time before making their next move. However, smaller service centers and the general populace are of the opinion price announcements will be made soon.