SMU Price Ranges & Indices: Flat to Down Slightly

Flat rolled steel prices were mixed compared to this time last week. The combination of our survey coupled with direct channel checks found hot rolled and galvanized prices slightly weaker while cold rolled and Galvalume prices remained the same as last week. The SMU Price Momentum Indicator continues to reference prices as moving lower over the next 30 days – although we believe prices will not drop sharply as inventories seem to be balanced and not all mills are participating in moving prices lower.

We are hearing reports of hot rolled price offers at $620 per ton this week but did not collect actual sales at that number before we concluded our numbers for today. Hot rolled is the weakest product and we are hearing of buyers pushing for sub-$600 per ton numbers from the mills (which they are resisting). On the flip side – plate products are quite strong right now and lead times are out into May.