Steel Products Prices North America
February 24, 2015
SMU Price Ranges & Indices: Hot Rolled Average Hits $500...
Written by John Packard
We are seeing the benchmark hot rolled coil average as sitting right on the critical $500 per ton mark this week. Most steel buyers with whom we speak are of the opinion that hot rolled coil will drop below $500 per ton within the next week or two. The question then becomes how far down can prices go before we establish a bottom?
The owner of one Midwest service center told Steel Market Update today that he did not see an end to the fall in prices. “The reality of the market…I can assure you prices are not going up, prices are still going down.” This executive told us that the mills were “desperate” for orders.
