SMU Price Ranges & Indices: Flat Rolled Up Another $20

The price of hot rolled steel topped the $600 per ton mark this week, cresting a psychological barrier that many saw as unreachable two months ago. Opinions are split on how much higher HR can go, and how long it can stay above the $600 level. Prices for all flat rolled products increased by another $20 per ton on the strength of yet another round of mill price increases last week. SMU’s Price Momentum Indicators will continue to point Higher until we see signs the market has peaked.

As we collected pricing, we did see that the “offers” out of the domestic steel mills are tracking at, or above, $600 per ton. We did collect prices as high as $640 per ton. The trend is for prices to move higher, although we are watching the market carefully as there is some skepticism amongst the steel buyers. We need to remember, prices have gone from below $500 per ton to over $600 per ton in a little less than three months.