SMU Data and Models
SMU Comparison Price Indices: Have Prices Peaked?
Written by John Packard
December 15, 2013
The spread between the various indices followed by Steel Market Update narrowed this past week with only $5 separating the indexes on benchmark hot rolled coil pricing. Platts dropped $5 per ton and met Steel Market Update at $675 per ton while all of the other indices came in at $670 per ton. Cold rolled was also in a very tight range with only $6 per ton separating the highest from the lowest average price.
An interesting development we are beginning to see is fluctuations in pricing both up and down. This week saw lower hot rolled prices out of Platts while the CRU adjusted cold rolled and galvanized prices lower.
FOB Points for each index:
SMU: Domestic Mill, East of the Rockies.
CRU: Midwest Mill, East of the Rockies.
SteelBenchmarker: Domestic Mill, East of the Mississippi.
SteelOrbis: Midwest Domestic Mill.
Platts: Within 200-300 mile radius of Northern Indiana Domestic Mill.
John Packard
Read more from John PackardLatest in SMU Data and Models
SMU Survey: Sheet lead times inch up, plate moves lower
Sheet times ticked higher but remain within days of multi-year lows, territory they have been in since May. Plate lead times have shifted lower in the past month but remain about a week longer than they were at this time last year.
SMU Survey: Mills slightly less negotiable on spot pricing
Sheet and plate buyers say mills remain open to negotiating spot prices this week, though less so than in recent weeks, according to SMU’s latest market survey.
August service center shipments and inventories report
US service centers flat-rolled steel supply in August declined month-over-month (m/m) and year-over-year (y/y), according to SMU data.
Apparent steel supply remains elevated in July
Apparent supply totaled 8.88 million short tons (st) in July, down 38,000 st from June and 6% higher than the same month last year
HRC vs. prime scrap spread narrows slightly
The price spread between prime scrap and hot-rolled coil (HRC) narrowed by a hair this month, according to SMU’s most recent pricing data.