Final Thoughts
April 15, 2021
Final Thoughts
Written by John Packard
We understand at least one integrated steelmaker is approaching their spot customers with hot rolled base prices of $1,500 to $1,520 per ton. We are not aware of any buyers at this “suggested” HRC price level (it wasn’t that long ago that $1,300 was the “suggested” steel price).
We concluded one of our SMU Flat Rolled and Plate Steel Market Trends Analyses today. Steel buyers continue to believe we are close to the top when it comes to benchmark HRC pricing. I have been conducting studies of steel buyers for more than four decades and it is rare that the buyers are able to recognize either the top or the bottom of market cycles. You can use your own judgement as you view the latest results from this week’s analysis.
