Steel Products Prices North America
SMU Price Ranges & Indices: Last Move Lower?
Written by John Packard
October 28, 2014
There has been a flurry of activity as buyers and sellers of steel anticipate a possible price increase announcement (which came late this afternoon in the form of a $20 increase out of AK Steel). Buyers reported the domestic mills as being aggressive this week and we saw our price averages negatively impacted as prices dropped on all products. The question now will be is the $20 increase out of AK Steel enough to get buyers attention or will it be ignored?
SMU Note: We normally immediately change our SMU Price Momentum Indicator to Neutral once price announcements are made by the domestic mills. We are going to wait until more mills join AK Steel before taking our Indicator to Neutral from its current Lower position.
Here is how we see prices this week:
Hot Rolled Coil: SMU Range is $610-$650 per ton ($30.50/cwt- $32.50/cwt) with an average of $630 per ton ($31.50/cwt) FOB mill, east of the Rockies. Both the upper and lower ends of our range decreased by $10 per ton compared to last week. Our average is down $10 per ton 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 $730-$770 per ton ($36.50/cwt- $38.50/cwt) with an average of $750 per ton ($37.50/cwt) FOB mill, east of the Rockies. Both the upper and lower ends of our range decreased by $10 per ton compared to last week. Our average is down $10 per ton 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 $36.00/cwt-$38.25/cwt ($720-$765 per ton) with an average of $37.125/cwt ($742.50 per ton) FOB mill, east of the Rockies.The lower end of our range declined by $10 per ton compared to last week while the upper end declined by $15 per ton. Our average is now $12.50 per ton lower 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 $789-$834 per ton with an average of $811.50 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 4-9 weeks.
Galvalume Coil: SMU Base Price Range is $36.50/cwt-$39.00/cwt ($730-$780 per ton) with an average of $37.75/cwt ($755 per ton) FOB mill, east of the Rockies. The lower end of our range declined by $10 per ton compared to last week while the upper end remained the same. Our average is now $5 per ton lower 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 $1021-$1071 per ton with an average of $1046 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 5-9 weeks.
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{amchart id=”110″ Weekly Pricing Article Graph- Use for NEWSLETTER Prices}
John Packard
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