SMU Price Ranges & Indices: Lower End of Range Continues to Slide

Flat rolled steel buyers and industry executives reported steel mills in both Canada and the United States as “aggressively looking for business” to run across their lines. Steel Market Update spoke with a manufacturing company on Monday who told us their company had been approached by a domestic mill not usually associated with cheap hot rolled business. The mill offered a $380 base plus waived an extra that was worth an additional $30 to $40 per ton (depending on mill).

Then earlier today (Tuesday) we were speaking with a couple of hot rolled buyers who pointed to Essar Steel Algoma as being especially “desperate” to sell steel and we were advised the numbers being quoted (and orders taken) were $380 delivered into the Chicago area.