Steel Products Prices North America
October 11, 2016
SMU Price Ranges & Indices: Hot Rolled Average Breaks Thru $500 Barrier
Written by John Packard
Flat rolled steel prices continue to move lower as benchmark hot rolled broke through $500 per ton and is now averaging $490 per ton. We were relatively conservative in our range this week as we did capture at least one order placed for moderate tonnage at $440 per ton and we are hearing that the integrated steel mills are trying to hold prices at, or slightly above, $500 per ton.
We heard from a couple of companies today about prices coming out of Mexico. One large service center told us, “Import offerings from Mexico currently reflect a “normal” $5.00/cwt spread with HR at equivalent US domestic fob (and/or US port) price of $23.50 and CR at $28.50. Not sure why they aren’t accounting for the higher spread in the US market. For what it’s worth, the most recent Mexican CR price offerings are now under what the lowest Vietnamese prices were just prior to the circumvention cases….”
