Final Thoughts
August 10, 2020
Final Thoughts
Written by John Packard
As I look at today’s hot rolled average of $440 per ton (-$10 from last week) I feel it’s my duty to provide some context to our number. SMU captured transactions placed late last week at, or slightly below, $400 per ton for spot hot rolled. Since Monday of this week we were capturing higher offers as the mills have filled their order books and extended lead times, in the process taking some of the pressure off the product.
The offers we are seeing for volume HRC this week are in the $420-$460 range. There are outliers at $480 per ton, and we decided to allow those in the mix this week.
