Final Thoughts
June 8, 2020
Final Thoughts
Written by Tim Triplett
John Packard is working on another project.
Steel prices have been on an upward trajectory, albeit a gradual one, since bottoming out in late April when the benchmark price of hot rolled hit a low of $460 per ton. The market plunged by $120 per ton in just six weeks from its mid-March high of $580 as the coronavirus shut down much of the economy. Since then, spurred on by two price increases from the mills, the HR price has recovered roughly $55 to the current $515 per ton reported in this issue of Steel Market Update.
