SMU Data and Models
August 26, 2018
SMU Market Trends: Spot Prices Poised to Decline?
Written by Tim Triplett
Sixty-two percent of those responding to Steel Market Update’s latest market trends questionnaire believe steel prices on the spot market are on the decline. Another 35 percent expect prices to remain the same. Only 3 percent feel steel prices could still move higher.
SMU has adjusted its Price Momentum Indicator to Lower, meaning prices are expected to decline in the next 30-60 days. The benchmark price for hot rolled coil dipped by $5 per ton last week to an average of $885 per ton. Cold rolled prices saw a similar drop to $985 per ton, while the base price for galvanized declined by $10 to $985.
