SMU Price Ranges & Indices: Holiday Lull

Flat rolled steel prices remained holiday bound and buyers are waiting to see if there is any movement based on the latest lead times and needs that the domestic mills might have. With the combination of the Labor Day holiday on Monday of this week, coupled with inventories starting to rise at service centers (according to a number of our channel checks) and hot rolled lead times coming in a bit, it may open up some opportunities. However, most of our contacts are reporting prices as relatively stable compared to this past week.

A large service center told us, “We are seeing current status quo on HR spot pricing, but I do believe that depending on mill and lead times, some softening may occur. The mills are working hard to keep the levels up, however.”