Steel Products Prices North America
January 2, 2018
SMU Price Ranges & Indices: Prices Move Higher
Written by John Packard
Flat rolled steel prices moved higher over the past week. Hot rolled offers are reaching (or exceeding) $700 per ton, while cold rolled and coated offers are moving into the low to mid $800s (base pricing, before extras). Steel buyers seemed resigned to paying higher numbers with many waiting to see what will happen with prices (and supply) should President Trump make a strong move in support of the steel industry when he comes out with his Section 232 decision. (He has 90 days to make his decision known). The market is watching foreign steel arrivals and offers for signs of a tightening in the supply chain.
We are also watching the inventories at service centers, which SMU pegged at 3 months of supply for flat rolled in both our “Flash” (reported a few days into the month of January) and our full report (which was reported over the weekend). Today, the Metals Service Center Institute (MSCI) came out with carbon flat rolled at 2.8 months’ supply, up from 2.3 months at the end of November.
