SMU Data and Models
October 23, 2016
SMU Adjust HR Index AND Moves Price Momentum Indicator to Neutral
Written by John Packard
Steel Market Update (SMU) made two market adjustments on Friday afternoon (Friday, October 21st).
We have adjusted the range on our hot rolled index to $440 per ton on the low end up to $500 per ton on the high side. Our average is now $470 per ton ($23.50.cwt). This is $10 per ton lower than what we published on Tuesday evening. The adjustment was made on Friday based on the new steel pricing data we have been collecting from steel buyers since Wednesday morning. We also wanted our index to reflect the most up to date numbers going into the new week after price increases announcements were made.
