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    November 6, 2018

    SMU Price Ranges & Indices: Benchmark Hot Rolled Above $800

    Written by Brett Linton

    Flat rolled steel prices continue to vacillate as we saw the low end of our range on benchmark hot rolled coil improve by $20 per ton. We are aware of a couple end-of-the-year deals that are below our range, but we feel at this point they are limited and not available to the greater market. Our HRC average rose by $10 per ton to $805 per ton.

    We are hearing that many steel buyers are sitting on their hands, or not needing to purchase steel right now. Many are waiting to see what is going to happen with the tariffs on Canada, Mexico and the extra 25 percent tariff on Turkey. They are also waiting to see what will happen once the election is over and, as one steel supplier told me this afternoon, many companies have been in an inventory reduction mode for the past two months.

    Brett Linton

    Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

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