SMU Data and Models
SMU Comparison Price Indices: Prices Dropping (except Plate)
Written by John Packard
February 16, 2014
The move by the domestic mills to reach $700+ per ton hot rolled is nothing but a blur in the rear view mirror according to the various steel indexes followed by Steel Market Update. Flat rolled steel prices fell across the board on hot rolled, cold rolled, galvanized and Galvalume steels this past week. The only product which bucked the trend was plate which rose by $10 per ton at Platts, SteelBenchmarker and CRU last week.
Steel Market Update (SMU) and Platts were at the low end of the range for benchmark hot rolled at $655 per ton. Both indices were down $5 per ton compared to the previous week.
Steel Market Update Price Momentum Indicator continues to point toward lower prices over the next 30 days. The question at this time is not if the mills can hit $700 per ton but can they hold $600?
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: Northern Indiana Domestic Mill.
John Packard
Read more from John PackardLatest in SMU Data and Models
SMU Steel Demand Index still lags
The Steel Demand Index now stands at 42, up from 38.5 in early July, but off from a four-year high of 65.0 in late February.
SMU Price Ranges: Sheet prices tick lower, but floor remains high vs. ’24
Sheet prices slipped again this week amid discounting from certain mills and ongoing concerns about demand.
SMU Survey: Steel Buyer Sentiment Indices soften
SMU’s Steel Buyers’ Sentiment Indices eased this week, both approaching multi-year lows.
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members.
SMU Survey: Mill lead times remain short
Steel mill lead times on sheet products contracted across the board this week compared to early July, while plate production times moderately extended, according to steel buyers responding to this week’s market survey.