Steel Products Prices North America
March 29, 2016
SMU Price Ranges & Indices: Continued Firming
Written by John Packard
Flat rolled steel prices continue to firm and many buyers are convinced there could be more price increases to come with a tightening foreign market and higher offers for foreign steel coupled with the expectation that ferrous scrap prices will increase by a minimum of $30 per gross ton for April delivery.
SMU has been learning of “holes” in some service center inventories, especially for traditional mill items (not 48″, 60″ or 72″). A number of distributors reported brisk service center sales or requests for quotes although not all service centers were willing to sell off what is becoming more valuable inventory as each week passes. Our HRC average price is now $80 per ton higher than where we were at the beginning of December. Galvanized prices have done even better improving by $137 per ton since early December.
