Steel Products Prices North America
February 17, 2015
SMU Price Ranges & Indices: Have the Mills Stopped Chasing Prices Down?
Written by John Packard
We received a very mixed bag when it came to hot rolled pricing this week. Our range expanded from the $490-$530 we reported last week to $480-$550 this week. Our HR average actually rose by $5 compared to one week ago. We are not ready to announce prices as having “bottomed,” as one renegade mill with a weak order book can change things in a heartbeat, but we are encouraged that there seems to be a bit of a pause this week.
In an exchange with a Ohio Valley area service center this afternoon the president of the company confided in us that they have been seeing a range of offers from $480 (not equalized) up to $510. In one case the offer jumped up $5 per ton as the negotiations continued. He told us the mill that was at $510 only got there after being pressed to move off of $520. The movement in price was tied to at least 1500 tons in prospective orders.
