Economy
January 3, 2016
It’s a New Day
Written by John Packard
The flat rolled steel price roller coaster did not do the steel mills or companies holding inventory any favors this past year. We saw hot rolled prices drop from just below $650 per net ton (average) at the beginning of the year to the low point of $360 per ton achieved the week of December 8th. Hot rolled prices dropped $290 per ton ($14.50/cwt) from the beginning of the year.
When looking at it from the beginning or peak of the cycle, which SMU has at $685 per ton as May 13, 2014, hot rolled prices dropped $325 per ton.
