Steel Products Prices North America
October 27, 2015
SMU Price Ranges & Indices: We Crash Through $400 Barrier on HRC
Written by John Packard
Steel Market Update (SMU) asked a manufacturing company when they thought prices will stop dropping? Their response was both classic and profound, “Prices will stop going down, when they go up. Prices can’t go below absolute zero. Question then becomes as to what defines absolute zero…?”
Flat rolled steel prices continued their march lower this week and our hot rolled index is now below $400 per ton and is within $10 of the cycle low hit during the Great Recession of $380 per ton (which lasted all of one week before bouncing back – hard – from there).
