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Steel Prices Continue to Move Higher

Steel Business Briefing released The Steel Index of Reference Prices for the week ending May 4, 2008. The new numbers show that the market prices for hot rolled, cold rolled and galvanized have continued to move higher as compared to the week prior.

Hot-rolled prices showed a $5 per ton move to the upside ($.25/cwt). Over the past four weeks, HR pricing has increased by $201 per ton ($10.05/cwt) or 24.8%.

Cold-rolled prices also moved higher. They increased by $11 per ton ($.55/cwt) as compared to the week prior and have moved higher by $190 per ton ($9.50/cwt) over the past four week period or, 20.8%.

Galvanized coil increased by $20 per ton ($1.00/cwt) compared to the previous week. Over the past four weeks galvanized has increased by 19.3%.

Provided courtesy of Steel Market Update ( www.steelmarketupdate.com )

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