SMU's September At-a-Glance

Steel prices continued their upward trajectory in September as demand rose further and mills announced more increases on hot rolled, cold rolled and galvanized products. Steel Market Update’s hot rolled price averaged $568 per ton in September, an increase of more than $100 month/month, and has since topped the $600 mark. Average prices for prime and obsolete scrap also rose in September, lending support to those higher finished steel prices.

SMU Buyers Sentiment Index readings rose further, keeping the upward momentum seen in August. Current and Future Sentiment were in the +56-58 range in September, an optimistic level considering the ongoing pandemic The three-month moving average reached +48.50 as of Sept. 30, an increase of 10.0 from August levels. Note that monthly sentiment readings in the chart below are averages for each month.

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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