Economy
March 31, 2018
March 2018 at a Glance: Prices Rise, Uncertainty Lingers
Written by Brett Linton
Steel price momentum remained on the upswing in March, but steel buyers appeared slightly less optimistic about their prospects as President Trump’s tariffs and fears of a trade war weighed on many minds.
The price of benchmark hot roll hit $870 per ton in late March, up $50 per ton from the beginning of the month and up about $185 per ton from the beginning of the year. Cold rolled and galvanized base prices topped the $1,000 per ton mark. Scrap prices maintained high levels throughout the month, reflecting solid demand from domestic steelmakers. Mill capacity utilization has still not eclipsed the desired 80 percent level, however, averaging 77.8 percent in March.
