Steel Products Prices North America
March 1, 2016
SMU Price Ranges & Indices: Prices Adjusted Higher
Written by John Packard
Spot flat rolled steel prices were adjusted higher by Steel Market Update based on the data being collected out of our ongoing flat rolled steel survey as well as through direct contact with steel buyers. We found a tight cluster of hot rolled offers in the $400 to $410 range. Our average increased due to an adjustment on the lower end of the range and our HRC index is now at $410 per ton. However, as we just mentioned if we were to produce our index on a weighted average it probably would have been closer to $405 than $410.
We will watch where prices go from here as SSAB and ArcelorMittal USA have come out with $30 per ton price increases on plate and sheet products. This includes hot rolled, cold rolled and coated products out of ArcelorMittal (plate and HR out of SSAB). We also expect the AD ruling on cold rolled to provide a shot in the arm for the domestic industry. Our Price Momentum Indicator continues to point toward higher prices over the next 30 days.
