Final Thoughts
February 10, 2021
Final Thoughts
Written by John Packard
Some of you may have noticed that we have adjusted our language when it comes to the SMU Price Momentum Indicator. At this moment, the momentum indicators for hot rolled, cold rolled, galvanized, Galvalume and plate steels are pointing toward higher prices over the near term (next 30 to possibly as far out as 60 days). We are hesitant to look out more than 30 days. Steel prices are at historical highs (not adjusted for inflation) with benchmark hot rolled now averaging $1,180 per ton. This is $110 per ton higher than the last high recorded by Steel Market Update in early July 2008.
