Mills Have Service Centers to Thank for Higher Spot Prices

Whether mills succeed in raising spot prices depends in large part on the support they receive from distributors. The latest Steel Market Update data from service centers, verified by data from their customers, indicates that steel prices have maintained their upward trajectory into the new year and show no signs of slowing.

As indicated by the green bars in the charts below, service centers have been raising spot prices to their customers since November. Seventy-eight percent of the service center executives responding to SMU’s questionnaire last week reported they are still raising prices. The other 22 percent said they are keeping prices the same. None said they are yet lowering spot prices.