Final Thoughts
October 9, 2019
Final Thoughts
Written by John Packard
John Packard is traveling…
Here’s what readers of Steel Market Update have learned this week. Steel prices continue to slide. By Steel Market Update’s calculation, the benchmark price for hot rolled steel now averages $515 per ton. That’s the lowest in 2019. Given the widespread reports of disappointing demand, worsened by the strike at GM and ferrous scrap prices that have declined sharply over the past two months, steel prices most likely have not yet hit bottom.
