Comparison Price Indices: Some Weakening in Hot Rolled

We actually saw some pull back in hot rolled and cold rolled pricing. The amounts were minimal and, in our opinion, do not represent a deteriorating or change in market direction. The hot rolled market is not as strong as that of cold rolled which is not as strong as that of coated steels. Some of this is due to the weakness in the energy, mining and agricultural equipment markets (affecting hot rolled) while seasonal factors are starting to come into play on coated steels.

Last week both Steel Market Update and Platts saw hot rolled prices as down slightly. Our average (without Steel Benchmarker who did not report new prices this past week) was down $4 per ton to $406 per ton.