Final Thoughts
December 7, 2021
Final Thoughts
Written by Tim Triplett
Steel prices continued to slide this week with the benchmark hot rolled number down another $40 per ton to an average of $1,730 per ton. That’s a decline so far of $225 per ton, or 11.5%, from the peak of $1,955 per ton in early September.
In our questionnaire this week, SMU asked buyers where they believe hot rolled prices will finish the year. About 40% think (or hope perhaps) that HR will still be at $1,700 per ton or above at year’s end, while the other 60% see prices somewhere below that line.
