Steel Products Prices North America
Steel Prices Return to December 2014 Levels
Written by John Packard
May 12, 2016
This week the benchmark hot rolled steel price average was reported by Steel Market Update at $610 per ton, up $40 per ton over the previous week and $120 per ton higher than just one month ago. The numbers reported this week are the highs for this calendar year and, are also the 52 week highs.
The next price level we are watching is the 2014 HRC price high water mark which was $685 per ton reported the first week of May 2014.
Buyers are concerned with the steepness of the rise in prices. In five months the domestic steel mills have been able to return to price levels not seen since December 16, 2014.
With SMU Price Momentum Indicator clearly pointing toward higher prices over the next 30 days we anticipate that we could come to challenge the $685 2014 high within the next 30 to 60 days.
John Packard
Read more from John PackardLatest in Steel Products Prices North America
SMU Community Chat: Timna Tanners on ‘Trumplications’ for steel in 2025
Wolfe Research's Managing Director Timna Tanners discusses the 'Trumplications' for steel in the coming year in this week's SMU Community Chat.
Nucor raises hot rolled spot price to $750/ton
Nucor raised its weekly consumer spot price (CSP) for HRC this week to $750/short ton.
SMU price ranges: Most sheet and plate products drift lower
Steel sheet prices mostly edged lower for a second week, while plate prices slipped for the third consecutive week.
Nucor drops HRC price to $720/ton
After holding its weekly spot price for hot-rolled (HR) coil steady for three weeks at $730 per short ton (st), Nucor lowered the price this week by $10/st.
SMU price ranges: Sheet slips, plate falls to 45-month low
Steel sheet and plate prices moved lower this week as efforts among some mills to hold the line on tags ran up against continued concerns about demand.