Economy
March 3, 2014
February Numbers at a Glance
Written by John Packard
Steel Market Update (SMU) Steel Buyers Sentiment Index averaged +39.5 which was down from the +43.5 reported during the month of January. Our SMU Price Momentum Indicator went from Neutral to Lower as we adjusted our indicator to reflect the dropping steel prices which we expect to continue over the next 30 days.
Benchmark hot rolled prices averaged $649 per ton for the month (last week HRC prices were reported by SMU at $635 per ton). This was $5 per ton lower than the $654 average reported by CRU.
