SMU Data and Models
SMU MoMo Remains in Positive Territory for 14th Week
Written by Brett Linton
September 5, 2013
The Steel Market Update Price MoMo Index for flat rolled steel in the U.S. remained in positive territory this week for the 14th consecutive week. MoMo, a trailing indicator, is based upon the current hot rolled coil price weighed against the previous 12 week average spot price as recorded by Steel Market Update.
MoMo was measured at 1.57 percent this week, down from 1.92 percent last week. The 3-week average change in MoMo is -1.10 percent, a slight reverse of course after 10 weeks of consecutive declines. The graph below demonstrates the relationship between the SMU hot rolled coil price and the three week moving average change in MoMo. Our HRC price range for this week is $630/ton to $660/ton with an average price of $645/ton.
Brett Linton
Read more from Brett LintonLatest in SMU Data and Models
SMU Survey: Buyers’ Sentiment Indices slip, but optimism remains
SMU’s Buyers’ Sentiment Indices both declined this week but remain strong. This indicates buyers are still optimistic about their companies' ability for success.
SMU Survey: Mill lead times extend, buyers question sustainability
Buyers responding to our latest market survey reported longer lead times this week on all of the sheet and plate products SMU tracks.
SMU Survey: Very little wiggle room on mill pricing, buyers say
The majority of the steel buyers responding to our latest market survey reported that domestic mills are not open to negotiating prices on new orders this week.
SMU’s February at a glance
SMU’s Monthly Review provides a summary of key SMU steel market metrics for the previous month, with the latest data updated through February 28th.
Steelmaking raw materials more expensive in February
Prices for six of the seven steelmaking raw materials SMU tracks are increased from January to February, according to our latest analysis.