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.
SMU Note: You can view the interactive graphic below when you are logged into the website and reading the newsletter online. If you have not logged into the website in the past and your username and password, contact us at: info@SteelMarketUpdate.com or by calling 800-432-3475. If you need help navigating the website we would also be happy to assist you.
{amchart id=”110″ Weekly Pricing Article Graph- Use for NEWSLETTER Prices}
John Packard
Read more from John PackardLatest in Steel Products Prices North America
CRU: Longs pricing trends diverge in North, South America
Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]
Nucor cuts plate prices by $125/ton, cites ongoing competition
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.
Nucor cuts HR price for fourth straight week
Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).
Cliffs sets $720/ton HR price with opening of August books
Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]