Economy
October 2, 2016
A Closer Look at September 2016
Written by John Packard
Hot rolled coils settled September on the CME at $542 per ton while Platts ($539 average) and SMU ($530 average) saw market prices as being weaker. The SMU Price Momentum Index pointed toward lower prices throughout the month and ended the month suggesting prices will continue to slide as we move into the month of October.
Buyers and sellers of flat rolled steel became slightly less optimistic about their company’s ability to be successful in both the current market as well as three to six months out into the future. Our three month moving average has been trending lower over the past three months.
