Steel Products Prices North America
February 28, 2023
SMU Price Ranges: The Sheet Rally Continues, Plate Joins
Written by David Schollaert
Last week’s mill price increases continue to make their way into the market. Cliffs’ latest this week – up another $100 per ton ($5 per cwt) and setting a new base price for hot band of $1,100 per ton – has yet to be reflected in today’s pricing. But that hasn’t stopped it from garnering attention and sparking market chatter.
There are mixed feelings about whether that price point will be seen in the near term. While some debate whether the sharply higher prices will stick, others contend that rising prices are justified by a supply-side squeeze.
