Steel Products Prices North America

SMU Price Ranges & Indices: No Change

Written by John Packard

October 14, 2014

Although we heard from a number of buyers mixed messages regarding the spot markets. Some buyers are seeing the market as continuing to weaken while others feel the mills have dug in their heals and prices are firm (at least in their region of the country). We have heard rumors of one, or more, mills offering prices below our minimums for “big tons.” At the same time, we have not heard of many buyers who were in the market to buy big tons right now. Most were either maintaining or looking to reduce tons as we get deeper into the 4th Quarter which is traditionally a slower time for the steel industry. So, SMU is going out on a limb this week and calling for the status quo…

Here is how we see prices this week:

Hot Rolled Coil: SMU Range is $630-$670 per ton ($31.50/cwt- $33.50/cwt) with an average of $650 per ton ($32.50/cwt) FOB mill, east of the Rockies. Both the upper and lower 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 trend lower over the next 30 days.

Hot Rolled Lead Times: 2-5 weeks.

Cold Rolled Coil: SMU Range is $750-$790 per ton ($37.50/cwt- $39.50/cwt) with an average of $770 per ton ($38.50/cwt) FOB mill, east of the Rockies. Both the upper and lower 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 trend lower over the next 30 days.

Cold Rolled Lead Times: 5-9 weeks.

Galvanized Coil: SMU Base Price Range is $740-$790 per ton ($37.00/cwt- $39.50/cwt) with an average of $765 per ton ($38.25/cwt) FOB mill, east of the Rockies. Both the upper and lower 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 trend lower over the next 30 days.

Galvanized .060” G90 Benchmark: SMU Range is $809-$859 per ton with an average of $834 per ton FOB mill, east of the Rockies.

Galvanized Lead Times: 4-9 weeks.

Galvalume Coil: SMU Base Price Range is $750-$810 per ton ($37.50/cwt- $40.50/cwt) with an average of $780 per ton ($39.00/cwt) FOB mill, east of the Rockies. Both the upper and lower 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 trend lower over the next 30 days.

Galvalume .0142” AZ50, Grade 80 Benchmark: SMU Range is $1041-$1101 per ton with an average of $1071 per ton FOB mill, east of the Rockies.

Galvalume Lead Times: 5-9 weeks.

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John Packard

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