SMU Data and Models
March 6, 2014
Steel Buyers Anticipate Further Erosion in Hot Rolled Steel Pricing
Written by John Packard
On Monday of this week Steel Market Update sent invitations to just under 600 companies to participate in our flat rolled steel market survey. The respondents to our survey consist of manufacturing companies (44 percent of the respondents), service centers/wholesalers (41 percent) and trading companies (6 percent), with the balance being steel mills, toll processors and suppliers to the industry (such as paint companies).
One of the areas we probed was to ask all of our respondents (as a group) to forecast where they believe spot hot rolled coil pricing will be at the beginning of April (note: SMU current HRC average is $635 per ton).
