Steel Products Prices North America
October 7, 2015
SMU Price Ranges & Indices: Mixed Results
Written by John Packard
Flat rolled steel prices were mixed over this past week based on data reported in our survey as well as the channel checks we were able to make during these past two hectic days. We are aware of offers on hot rolled under $400 per ton but we have not reported the numbers as readily available. We believe hot rolled will continue to weaken – especially with reports that scrap will drop $50 per gross ton for October and the threat of lower billet offers to Turkey once the Chinese return from holiday (which could weaken prices further in the coming weeks).
We are very concerned that an automotive strike at Chrysler will put more pressure on the integrated mills to move tons into the spot market should the strike last for more than a week or two.
