SMU Data and Models
February 27, 2020
Mills Hike Flat Roll by $40; SMU Price Momentum Indicator at Neutral
Written by John Packard
Steel Market Update raised its Flat Rolled Price Momentum Indicator to Neutral yesterday from Lower in anticipation of a price hike believed imminent from the mills. As expected, Nucor and U.S. Steel both announced increases today of $40 per net ton on all new spot orders of hot rolled, cold rolled and galvanized steel, effective immediately. USS-POSCO Industries (UPI) followed suit with its own $40 increase on HR, CR and galv. ArcelorMittal USA also announced new base prices for spot orders of its flat rolled products. Effective immediately, its hot rolled base is $620 per ton, while cold rolled and coated products have a base of $820 per ton.
