Economy
May 1, 2014
April - End of the Month Data
Written by John Packard
April is now behind us and it proved to be one interesting month. In looking at the key data we follow on a monthly basis for our readers, SMU Price Momentum Indicator ended the month where it began pointing to higher prices over the near term. SMU Steel Buyers Sentiment Index ended the month at +58 which is a very high bullish sign for the flat rolled steel industry.
Hot rolled prices averaged $664 according to both Steel Market Update’s monthly average and that of CRU. The amount of monthly change from the average of the previous month was $38 per ton for SMU and $21 per ton for CRU. The month of April ended with HRC average pricing at $675 per ton according to our Index ($683 at CRU). Platts average for the month of April was $671, $28 worth of price movement for the month of April.
