Steel Products Prices North America
January 11, 2022
SMU Price Ranges & Indices: HRC Falling Back to Earth
Written by Brett Linton
As widely expected, steel prices continued to slide this week with hot rolled dipping below $1,500 per ton for the first time since April 2021. The big difference being that last April the HR price was on an upward trajectory that would eventually take it to a high of $1,955 per in early September. Since then the price has been heading rapidly back to earth, now down by $475 per ton, or about 24%, from its peak. Where it will land, no one knows. Steel Market Update’s check of the market this week puts the average HR price at $1,480 per ton, down $55 from last week. Cold rolled and galvanized prices experienced similar declines of $30-45 per ton. SMU’s price momentum indicators are pointing Lower for all flat rolled products, which are expected to see further declines in the next 30 days, and possibly beyond. Plate prices seem to be the exception, registering a modest increase this week.
Hot Rolled Coil: SMU price range is $1,400-$1,560 per net ton ($70.00-$78.00/cwt) with an average of $1,480 per ton ($74.00/cwt) FOB mill, east of the Rockies. The lower end of our range remained unchanged compared to one week ago, while the upper end decreased $110 per ton. Our overall average is down $55 per ton from last week. Our price momentum on hot rolled steel is at Lower, meaning we expect prices to decrease over the next 30 days.
