Economy
April 2, 2017
March 2017 at a Glance
Written by John Packard
Flat rolled steel Price Momentum ended the month of March where it began – indicating higher prices for hot rolled, cold rolled, galvanized, Galvalume and now plate prices. The steel and manufacturing industries remain firmly entrenched in the Optimistic camp as the SMU Steel Buyers Sentiment Index hit new highs for the three-month moving average (3MMA) of the Current Sentiment time period as well as that representing Sentiment three to six months into the future. The 3MMA ended March at +73.50.
A bit of a disconnect has been growing between the CME Settlement numbers and the SMU and Platts hot rolled coil index. Both the SMU and Platts average for HRC for the month of March was $648 per ton. The CME Settled HRC contracts for the month of March based on a $636 per ton monthly average.
