Steel Products Prices North America

SMU Price Ranges & Indices: Flat to Slightly Lower

November 5, 2013

Spot flat rolled steel prices remained relatively stable compared to where they were at this point in time last week.

Hot rolled was down $5 per ton however, we do not consider this to be a significant change. We caught a few more numbers this week at the lower portion of our range. However, the largest numbers of hot rolled providers were huddled at $670 per ton this week.

Cold rolled remained the same as last week as did Galvalume. Galvanized was down $5 per ton as much like hot rolled above we managed to collect a few more numbers at the lower end of the range this week. The bulk of galvanized providers were reporting numbers at $38.00/cwt to $38.50/cwt.

The west coast mills have announced price increases however; they rarely have a direct impact on the eastern mills pricing patterns. We are expecting scrap prices to settle later this week up $20 to $30 per which we believe may pressure the Midwest, Southern and East Coast mills to raise prices. Our SMU Price Momentum Indicator is at Higher indicating prices should move up over the next 30 days.

Here is how we are seeing prices this week:

Hot Rolled Coil: SMU Range is $640-$680 per ton ($32.00/cwt- $34.00/cwt) with an average of $660 per ton ($33.00/cwt) fob mill, east of the Rockies. The lower end of our range decreased by $10 per ton compared to last week while the upper end remained the same. Our average is now $5 per ton lower compared to last week. The trend for hot rolled is for prices to rise over the next 30 days.

Hot Rolled Lead Times: 3-6 weeks.

Cold Rolled Coil: SMU Range is $750-$780 per ton ($37.50/cwt- $39.00/cwt) with an average of $765 per ton ($38.25/cwt) fob mill, east of the Rockies. Both the lower and upper end of our range remained the same compared to last week. Our average is unchanged compared to last week. The trend for cold rolled is for prices to rise over the next 30 days.

Cold Rolled Lead Times: 5-8 weeks.

Galvanized Coil: SMU Base Price Range is $740-$790 per ton ($37.00/cwt- $39.50/cwt) with an average of $765 per ton ($38.25/cwt) fob mill, east of the Rockies. The lower end of our range decreased by $10 per ton compared to last week while the upper end remained the same. Our average is now $5 per ton lower compared to last week. The trend for galvanized is for prices to rise over the next 30 days.

Galvanized .060” G90 Benchmark: SMU Range is $800-$850 per ton with an average of $825 per ton.

Galvanized Lead Times: 4-8 weeks.

Galvalume Coil: SMU Base Price Range is $740-$790 per ton ($37.00/cwt- $39.50/cwt) with an average of $765 per ton ($38.25/cwt) fob mill, east of the Rockies. Both the lower and upper end of our range were unchanged compared to last week. Our average is the same as it was last week. The trend for Galvalume is for prices to rise over the next 30 days.

Galvalume .0142” AZ50, Grade 80 Benchmark: SMU Range is $1031-$1081 per ton with an average of $1056 per ton.

Galvalume Lead Times: 5-8 weeks.