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The SMU/Steel Reality Fair Value hot rolled coil model has Fair Value remaining the same as last week due to a lack of price movement in either scrap or SMU HRC pricing. The spread between our Fair Value model and hot rolled pricing is +$6 per ton. Hot rolled prices are $6 per ton higher than our Fair Value model.
The Fair Value HRC model was part of the acquisition of Steel Reality made a couple of months ago. The model demonstrates the relationship between scrap inputs and hot rolled coil index pricing. Our proprietary calculation estimates Fair Value for HRC and the difference is how far above or below Fair Value is the current spot price.
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.