SMU Price Ranges & Indices: Slowly Sliding Lower

Galvanized base prices dropped on the low end of the range. Earlier today SMU participated in a conference call with HARDI wholesalers who are involved with supplying galvanized steel to the HVAC mechanical contractors. One of the wholesalers told the group something that we think the domestic mills need to hear – the mills are being much more aggressive than the service centers. As Mark Millet put it in the SDI conference call this morning, the correction in pricing is perhaps a bit overdone.

The pace of the price movement this week was relatively muted compared to what we have seen over the past few weeks.

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 $430-$460 per net ton ($21.50/cwt- $23.00/cwt) with an average of $445 per ton ($22.25/cwt) FOB mill, east of the Rockies. The lower end of our range declined $5 per ton compared to last week while the upper end was unchanged. Our average is now $2.50 per ton lower compared to one week ago. SMU price momentum for hot rolled steel is for prices to move sideways to slightly lower over the next 30 days.

Hot Rolled Lead Times: 1-4 weeks.

Cold Rolled Coil: SMU Range is $540-$590 per net ton ($27.00/cwt- $29.50/cwt) with an average of $565 per ton ($28.25/cwt) FOB mill, east of the Rockies. The lower end of our range remained the same compared to one week ago while the upper end increased $10 per ton as well. Our average is now $5 per ton higher compared to last week. SMU price momentum on cold rolled steel is for prices to move sideways to slightly lower over the next 30 days.

Cold Rolled Lead Times: 2-6 weeks.

Galvanized Coil: SMU Base Price Range is $26.25/cwt-$29.00/cwt ($525-$580 per net ton) with an average of $27.625/cwt ($552.50 per ton) FOB mill, east of the Rockies. The lower end of our range declined $15 per ton compared to last week while the upper end was unchanged. Our average is now $7.50 per ton lower compared to one week ago. SMU anticipates galvanized prices will remain steady to slightly lower over the next 30 days.

Galvanized .060” G90 Benchmark: SMU Range is $594-$649 per net ton with an average of $621.50 per ton FOB mill, east of the Rockies.

Galvanized Lead Times: 3-6 weeks.

Galvalume Coil: SMU Base Price Range is $27.50/cwt-$29.50/cwt ($550-$590 per net ton) with an average of $28.50/cwt ($570 per ton) FOB mill, east of the Rockies. The lower end of our range remained the same compared to one week ago while the upper end decreased $10 per ton. Our average is now $5 per ton lower compared to last week. Our expectation is for Galvalume prices to remain steady to slightly lower over the next 30 days.

Galvalume .0142” AZ50, Grade 80 Benchmark: SMU Range is $841-$881 per net ton with an average of $861 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.

{amchart id=”110″ Weekly Pricing Article Graph- Use for NEWSLETTER Prices}