Final Thoughts
October 26, 2016
Final Thoughts
Written by John Packard
We continue to watch flat rolled steel prices as anytime the mills announce a price increase it takes time to develop the “target” price. You have to remember that there is a range of prices – not everyone was paying $470 per ton for hot rolled coil before the price increase announcements were made. Some were lower and some were higher. We think the target range coming out of most of the steel mills is $480 to $500 per ton ($24.00/cwt-$25.00/cwt) for hot rolled.
I want to dig a little deeper when it comes to cold rolled and coated base price offers on spot. Remember, buyers have been dealing with the higher than normal spread between hot rolled and cold rolled/coated base prices.
