Economy
May 4, 2021
SMU's April At-a-Glance
Written by Brett Linton
Limited supply and strong demand continued to push steel prices higher throughout April, now the eighth consecutive month in which prices have increased. Hot rolled steel prices increased an average of $25 per ton each week, reaching $1,440 per ton by the end of April, exceeding any historical price by far. The SMU Price Momentum Indicator has remained unchanged since the August 2020 adjustment to higher, indicating prices are expected to rise further in the short term.
April scrap prices remained relatively stable versus March, down $5 for HMS and down $20 per ton for shredded and busheling scrap. Click here to view and compare prices within our interactive pricing tool.
