SMU Data and Models
February 5, 2015
SMU Price Momentum Indicator Still Pointing Toward Lower Prices
Written by John Packard
Earlier this week Steel Market Update suggested that perhaps we are getting close to that time when it is necessary to have a dialogue/debate as to when and at what level will flat rolled steel prices bottom. As of Tuesday of this week, Steel Market Update range for benchmark hot rolled coil was $520 to $560 per ton with an average of $540 per ton.
We are now at levels not seen since October/November 2010 and, if the HRC average drops below $535 We have to go back to December 2009 to find numbers that low.
