SMU Price Ranges & Indices: Minor Adjustments

The data collected late last week and through the day today was spotty at best. However, we feel confident from the numbers we were able to collect to make some minor adjustments in our hot rolled and cold rolled indices. With the Holiday Week upon us SMU does not anticipate another round of price increases until the New Year. With the mill offers pushing the upper ranges (and in some case exceeding the upper ranges) of the last guidance numbers provided by the mills, another increase should come as no surprise.

We expect the next increase could be in the $40 to $50 per ton range based on what we are hearing out of the scrap dealers. Negotiations should begin in earnest as soon as the New Year Holiday is behind us.