Final Thoughts
February 28, 2020
Final Thoughts
Written by Tim Triplett
John Packard is traveling…
The mills announced another $40 increase in flat rolled prices this week in the hopes of reversing the recent downturn in steel prices. Instead of an increase, ArcelorMittal released minimum base prices of $620 for hot rolled and $820 for cold rolled and coated. Steel Market Update puts the current benchmark price for hot rolled at $560 per ton, down from $610 in January. Steel buyers polled by SMU on Friday generally believe the increase, in combination with higher scrap prices in March, has a good chance of stabilizing or boosting prices, at least to some degree in the short term.
