Economy
May 31, 2017
May at a Glance
Written by John Packard
The month of May saw flat rolled steel prices and our SMU Price Momentum Indicator take a turn and move lower. Benchmark hot rolled pricing was $625 during the first week of May and ended the month at $580 per ton. The HRC average for the month was $603 per ton, $6 per ton lower than the CME Settlement Price and $4 per ton lower than the Platts average for the month.
SMU Steel Buyers Sentiment Index, which is a forward looking indicator, dropped -8 points as the month progressed and our three month moving average declined for the first time in many months (albeit from record high levels).
