Final Thoughts
July 20, 2020
Final Thoughts
Written by Tim Triplett
Steel prices are always unpredictable, but a confluence of recent events is making price prognostication more difficult than usual.
Steel prices have plummeted along with demand ever since the coronavirus appeared in mid-March and undermined the economy. The benchmark base price for hot rolled steel is down to $460 per ton, based on SMU’s canvass of the market this week. That’s unchanged from last week, though prices for other flat rolled products weakened by a further $5-10 per ton.
