Steel Products
August 2, 2021
SMU CEO Discusses Signs That Will Point to Lower Steel Prices
Written by John Packard
Looking for Signs
One year ago, benchmark hot rolled prices bottomed at $440 per ton ($22.00/cwt). Since then, steel prices have been on a tear with spot hot rolled more than four times higher at nearly $1,900 per ton ($95.00/cwt). The net result from this 52-week march higher is the way steel buyers view the market and inventories have changed. The question is, what changes will remain once the market finds its equilibrium?
