Prices
September 7, 2014
SMU Comparison Price Indices: More Slippage
Written by John Packard
Flat rolled steel prices continue to slip lower as the various indexes watched by Steel Market Update begin to come to a consensus as the spreads between the indexes shrink. Platts dropped their benchmark hot rolled price by $5 per ton and CRU by $2 per ton. SteelBenchmarker did not report prices this week as they only produce prices twice per month. Our average of all the indexes dropped by $2 per ton.
Our cold rolled average dropped by $1 per ton as we now have two indexes at $790 per ton (SMU and CRU) and two at $795 per ton (SteelBenchmarker and Platts).
The galvanized average dropped by $2 per ton as CRU was down $3 and SMU remained the same. There is now a $2 spread between the two indexes.
Galvalume prices remained the same and plate was up by $2 per ton with CRU adding $4 per ton to their index.
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.
Platts: Northern Indiana Domestic Mill
