SMU Data and Models
March 1, 2016
End of Month Data for February 2016
Written by John Packard
Steel prices continued their three month hike higher as SMU benchmark hot rolled price index (average) for the month was $408 per ton. Even with some minor stumbles noted in hot rolled and cold rolled during the second half of the month, our Price Momentum Indicator is still pointing toward higher prices over the next 30 days. That was reinforced on the last day of the month as SSAB and ArcelorMittal raised plate and sheet spot prices.
Our $408 per ton average was in line with Platts $409 average. The Platts index is one used in some of the domestic steel mill contracts and one that SMU recommends due to its transparency.
