Steel Products Prices North America
March 24, 2020
SMU Market Trends: Buyers Ponder Their Prospects in the Virus Crisis
Written by Tim Triplett
Steel prices saw further declines this week, but not a dramatic collapse. The benchmark price of hot rolled now averages around $560 per ton, down $5 from last week and down $50 from the mid-January high of $610.
Most of the steel buyers responding to Steel Market Update’s check of the market this week expect steel prices to move lower in the next month as demand suffers from the disruptions to commerce over the coronavirus. Ferrous scrap prices are expected to move lower in April, which will add downward pressure to finished steel prices.
