SMU Price Ranges & Indices: Prices Mixed

Our expectation is for prices to wobble from here as we wait to see if demand can absorb the supply brought back online and, if there will be any impact from higher imports of these products in the coming months. At the same time we are seeing scrap prices trending lower by $20-$30 per gross ton and iron ore prices in China are also retreating (but we won’t get a full feel for the Chinese spot iron ore markets until they return from Chinese New Year which begins on January 31st.

Our SMU Steel Momentum Indicator remains at Neutral as we wait to see what will be the driving force behind market prices in the coming weeks.

Here is how we see prices this week:

Hot Rolled Coil: SMU Range is $650-$700 per ton ($32.50/cwt- $35.00/cwt) with an average of $675 per ton ($33.75/cwt) FOB mill, east of the Rockies. The lower end of our range remained the same compared to last week while the upper end increased by $10 per ton. Our average is now $5 per ton higher compared to last week. Our expectation is for hot rolled pricing to move sideways over the next 30 days.

Hot Rolled Lead Times: 3-6 weeks.

Cold Rolled Coil: SMU Range is $760-$820 per ton ($38.00/cwt- $41.00/cwt) with an average of $790 per ton ($39.50/cwt) FOB mill, east of the Rockies. The lower end of our range remained the same compared to last week while the upper end increased by $20 per ton. Our average is now $10 per ton higher compared to last week. SMU anticipates cold rolled prices will move sideways over the next 30 days.

Cold Rolled Lead Times: 5-8 weeks.

Galvanized Coil: SMU Base Price Range is $760-$790 per ton ($38.00/cwt- $39.50/cwt) with an average of $775 per ton ($38.75/cwt) FOB mill, east of the Rockies. The lower end of our range remained the same compared to last week while the upper end decreased by $10 per ton. Our average is now $5 per ton lower compared to last week. SMU anticipates galvanized base prices will trend sideways over the next 30 days.

Galvanized .060” G90 Benchmark: SMU Range is $820-$850 per ton with an average of $835 per ton FOB mill, east of the Rockies.

Galvanized Lead Times: 4-8 weeks.

Galvalume Coil: SMU Base Price Range is $760-$800 per ton ($38.00/cwt- $40.00/cwt) with an average of $780 per ton ($39.00/cwt) FOB mill, east of the Rockies. The lower end of our range remained the same compared to last week while the upper end decreased by $10 per ton. Our average is now $5 per ton lower compared to last week. The expectation is for Galvalume prices to move sideways over the next 30 days.

Galvalume .0142” AZ50, Grade 80 Benchmark: SMU Range is $1051-$1091 per ton with an average of $1071 per ton FOB mill, east of the Rockies.

Galvalume Lead Times: 5-8 weeks.

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