Economy
October 1, 2017
September 2017 at a Glance
Written by John Packard
SMU Price Momentum Indicator is now at “lower,” meaning flat rolled steel spot prices are expected to move lower over the next 30 to 60 days. Steel prices have begun to retreat with benchmark hot rolled beginning the month at $630 per ton ($31.50/cwt) and ending the month down $20 to $610 per ton ($30.50/cwt).
Our SMU Steel Buyers Sentiment Index averaged +67.50 as a single data point and our three-month moving average (3MMA) rose by the slimmest of margins from +65.67 to +65.83.
