Steel Products Prices North America
May 8, 2018
It's Just the Bottom of the Third Inning…
Written by John Packard
SMU’s flat rolled steel Price Momentum Indicator is currently pointing at Neutral meaning sheet steel prices are in transition or have hit a lull. A Neutral reading does not mean flat rolled steel prices will automatically move lower from here just because the previous indication was for higher prices.
The injection of the U.S. government into the steel industry has caused U.S. steel prices to split with the rest of the world. Export prices out of China are referenced by Platts to be $590 per metric ton, FOB Tianjin Port ($535 per net ton). Out of Turkey and Russia, Platts has HRC export prices at $615 per metric ton, FOB Turkish or Russian port ($558 per net ton). As of today, the SMU HRC average is $880 per ton, FOB the mill.
