Steel Products Prices North America

SMU Price Ranges & Indices: Slide Slows

March 18, 2015

The quick slide to the bottom slowed over the last 7 days with cold rolled and Galvalume steel prices unchanged, galvanized is down $5 per ton and hot rolled is down $10 per ton compared to last Tuesday evening. Hot rolled is now within the range predicted by Timna Tanners of Bank of America Merrill Lynch as being the “bottom” of the market in a note to her clients a few weeks ago.

Here is how we see spot flat rolled prices this week (all prices shown are in net tons which are equal to 2,000 pounds):

Hot Rolled Coil: SMU Range is $450-$490 per net ton ($22.50/cwt- $24.50/cwt) with an average of $470 per ton ($23.50/cwt) FOB mill, east of the Rockies. The lower end of our range declined $10 per ton compared to one week ago as did the upper end of our range. Our average is now $10 per ton lower than last week. SMU price momentum for hot rolled steel is for prices to move lower over the next 30 days.

Hot Rolled Lead Times: 1-4 weeks.

Cold Rolled Coil: SMU Range is $590-$630 per net ton ($29.50/cwt- $31.50/cwt) with an average of $610 per ton ($30.50/cwt) FOB mill, east of the Rockies. The lower end of our range rose $10 per ton compared to last week while the upper end decreased $10 per ton. Our average remains the same compared to one week ago. SMU price momentum on cold rolled steel is for prices to move lower over the next 30 days.

Cold Rolled Lead Times: 2-6 weeks.

Galvanized Coil: SMU Base Price Range is $28.50/cwt-$31.50/cwt ($570-$630 per net ton) with an average of $30.00/cwt ($600 per ton) FOB mill, east of the Rockies. The lower end of our range declined $10 per ton compared to one week ago while the upper end remained the same. Our average is now $5 per ton lower than last week. SMU anticipates galvanized prices will move lower over the next 30 days.

Galvanized .060” G90 Benchmark: SMU Range is $639-$699 per net ton with an average of $669 per ton FOB mill, east of the Rockies.

Galvanized Lead Times: 3-6 weeks.

Galvalume Coil: SMU Base Price Range is $29.00/cwt-$32.00/cwt ($580-$640 per net ton) with an average of $30.50/cwt ($610 per ton) FOB mill, east of the Rockies. Both the lower and upper ends of our range remained unchanged compared to last week and our average also remained the same as it was one week ago. Our expectation is for Galvalume prices to move lower over the next 30 days.

Galvalume .0142” AZ50, Grade 80 Benchmark: SMU Range is $871-$931 per net ton with an average of $901 per ton FOB mill, east of the Rockies.

Galvalume Lead Times: 4-6 weeks.

SMU Note: Below is an interactive graphic showing our hot rolled, cold rolled, galvanized, and Galvalume price history. You can only view this interactive graphic when you are logged into the website and reading the newsletter there. If you need help navigating the website or need to know your login information, contact us at info@SteelMarketUpdate.com or by calling 800-432-3475.

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