Prices
Comparison Price Indices: Finally at Bottom?
Written by John Packard
April 26, 2015
The slippage in flat rolled steel prices continued this past week but we are seeing signs that the end to the slide “may” be close.
Hot rolled prices dropped $3 (SMU) to $5 (Platts and CRU) per ton with only $1 separating the indexes from one another. We normally see the indexes tightening up the range between one another when numbers start to firm or, perhaps better stated, when the mills begin pushing back and not giving up $10 per ton or more from the prior week.
Cold rolled prices actually rose on the SMU and CRU indexes while Platts remained stable. The variance between SMU and CRU was $3 per ton and Platts continues to see the market $12 to $15 per ton higher.
Galvanized and Galvalume numbers continue to adjust but the good news for those looking for a bottom, is CRU and SMU now have $4.50 per ton separating the two indexes.
Plate prices continue to drop by double digits but the spread between CRU and Platts tightened.
FOB Points for each index:
SMU: Domestic Mill, East of the Rockies.
CRU: Midwest Mill, East of the Rockies.
SteelBenchmarker: Domestic Mill, East of the Mississippi.
Platts: Northern Indiana Domestic Mill.
Note that SteelBenchmarker produces numbers twice per month. On the weeks they produce numbers we will include them in the average. The weeks where they do not produce numbers (NA = not available) we will not include their outdated numbers in the CPI average.
John Packard
Read more from John PackardLatest in Prices
SMU Survey: Mills less negotiable on spot prices
Most steel buyers responding to our market survey this week reported that domestic mills are considerably less willing to talk price on sheet and plate products than they were in recent weeks.
Price gap between US HRC, most imports narrows slightly
In dollar-per-ton terms, US product is on average $141/st less than landed import prices (inclusive of the 50% tariff). That’s down from $148/st last week.
SMU price ranges: Sheet ticks higher, plate stable
Sheet steel indices increased across the board this week, while plate prices held steady. All five of SMU’s price indices are higher than they were two weeks ago, and all but one are above levels recorded four weeks ago.
Nucor lifts HR spot price by $10/ton
Nucor has raised its weekly spot list price on hot-rolled coil by $10 per short ton (st) after keeping it unchanged since Aug. 25.
Atlas Tube up $50/ton following NLMK USA sheet price hike
Atlas Tube, in a leading move, said it aims to increase prices for mechanical tubing, hollow structural sections (HSS), and piling products by at least $50 per short ton (st).