SMU Price Ranges & Indices: Holiday Lull

“I think from various discussions last week, that inventories generally are higher and buyers are reluctant to make volume offers to mills since their needs are reduced, and they fear further price erosion in the immediate future,” is what one service center executive told us earlier today. He pegged the upper end of the hot rolled market as closer to $670 per ton for “any volume” and not just large orders.

A manufacturing company told SMU that they were seeing some potential weakness developing in the market and they would have a better feel as the week goes on.

Until then this is how we see flat rolled prices this week:

Hot Rolled Coil: SMU Range is $640-$690 per ton ($32.00/cwt- $34.50/cwt) with an average of $665 per ton ($33.25/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 one week ago. SMU price momentum for hot rolled steel is for prices to remain neutral over the next 30 days.

Hot Rolled Lead Times: 2-5 weeks.

Cold Rolled Coil: SMU Range is $780-$810 per ton ($39.00/cwt- $40.50/cwt) with an average of $795 per ton ($39.75/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 one week ago. SMU price momentum on cold rolled steel is for prices to remain neutral over the next 30 days.

Cold Rolled Lead Times: 5-9 weeks.

Galvanized Coil: SMU Base Price Range is $770-$800 per ton ($38.50/cwt- $40.00/cwt) with an average of $785 per ton ($39.25/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 one week ago. SMU anticipates galvanized base prices will remain neutral over the next 30 days.

Galvanized .060” G90 Benchmark: SMU Range is $830-$860 per ton with an average of $845 per ton FOB mill, east of the Rockies.

Galvanized Lead Times: 4-9 weeks.

Galvalume Coil: SMU Base Price Range is $770-$820 per ton ($38.50/cwt- $41.00/cwt) with an average of $795 per ton ($39.75/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 one week ago. Our expectation is for Galvalume prices to remain neutral over the next 30 days.

Galvalume .0142” AZ50, Grade 80 Benchmark: SMU Range is $1061-$1111 per ton with an average of $1086 per ton FOB mill, east of the Rockies.

Galvalume Lead Times: 5-9 weeks.

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