Prices

SMU Price Ranges & Indices: Sideways with Upward Pressure

Written by Brett Linton

April 29, 2014

Prices moved sideways this week as buyers digest the $30 per ton of movement made in benchmark hot rolled pricing going back to the beginning of the month of April. Steel Market Update is aware there are a number of domestic mills who have made “internal” spot price adjustments, taking price offers from $34.25/cwt ($685 per ton) up to $35.00/cwt ($700 per ton). Cold rolled and coated base price offers are reported to be as high as $41.50/cwt which is also up $15 per ton compared to the last “official” public price announcement.

We understand SDI opened June production with hot rolled at $700 per ton and coated at $820 base plus extras.

However, even though price offers are up at most mills we continue to collect numbers below $680 per ton on hot rolled and below $40.00/cwt on coated.

Even so, our Price Momentum Indicator continues to point toward higher prices over the near future.

Here is how we are seeing prices this week:

Hot Rolled Coil: SMU Range is $660-$690 per ton ($33.00/cwt- $34.50/cwt) with an average of $675 per ton ($33.75/cwt) FOB mill, east of the Rockies. Both the lower and upper ends of our range remained the same compared to last week. Our average is unchanged compared to last week. Our expectation is for hot rolled pricing to move higher over the next 30 days.

Hot Rolled Lead Times: 3-6 weeks.

Cold Rolled Coil: SMU Range is $790-$815 per ton ($39.50/cwt- $40.75/cwt) with an average of $803 per ton ($40.125/cwt) FOB mill, east of the Rockies. Both the lower and upper ends of our range remained the same compared to last week. Our average is unchanged compared to last week. SMU anticipates cold rolled prices will move higher over the next 30 days.

Cold Rolled Lead Times: 5-8 weeks.

Galvanized Coil: SMU Base Price Range is $790-$815 per ton ($39.50/cwt- $40.75/cwt) with an average of $803 per ton ($40.125/cwt) FOB mill, east of the Rockies. Both the lower and upper ends of our range remained the same compared to last week. Our average is unchanged compared to last week. SMU anticipates galvanized base prices will trend higher over the next 30 days.

Galvanized .060” G90 Benchmark: SMU Range is $850-$875 per ton with an average of $863 per ton FOB mill, east of the Rockies.

Galvanized Lead Times: 4-8 weeks.

Galvalume Coil: SMU Base Price Range is $790-$820 per ton ($39.50/cwt- $41.00/cwt) with an average of $805 per ton ($40.25/cwt) FOB mill, east of the Rockies. Both the lower and upper ends of our range remained the same compared to last week. Our average is unchanged compared to last week. Our expectation is for Galvalume prices to move higher over the next 30 days.

Galvalume .0142” AZ50, Grade 80 Benchmark: SMU Range is $1081-$1111 per ton with an average of $1096 per ton FOB mill, east of the Rockies.

Galvalume Lead Times: 5-8 weeks.

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Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

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