SMU Price Ranges & Indices: Prices Adjust to Mature Market Conditions

Flat rolled steel prices are showing themselves as being in a “mature” market having been on the rise for most of the 24 weeks since prices began their climb at the end of October 2016. We peaked out on hot rolled at $655 per ton over the last two weeks. This week we moved off that number and drifted lower with our new HRC average being down $15 per ton.

But, I think it is important for our readers to know we are not seeing any signs of panic out of the steel mills. Yes, we have found evidence that some mills on some products (like cold rolled) may be a little weaker than what was seen a few weeks back. The drop in prices was mostly due to a widening of the spread.