Economy
March 3, 2022
SMU's February at a Glance
Written by Brett Linton
February marked month six of declining steel prices, following a 12-month streak of continuous price increases. Hot rolled prices declined $215 per ton throughout the month, with the SMU index averaging $1,020 per ton at the end of February (recall our HR average this week declined another $20 to $1,000 per ton). The SMU Price Momentum Indicator for sheet products was adjusted to Neutral in the fourth week of February, which had previously been pointing Lower since mid-October. Plate price momentum remains at Neutral, as has been the case since Septemer last year.
February scrap prices were relatively stable, within $10 per ton of January prices. Click here to view and compare prices using our interactive pricing tool.
