Steel Products Prices North America

SMU Price Ranges & Indices: Wait and See...

Written by John Packard

August 25, 2015

Steel buyers continue to report flat rolled steel prices as being stagnate (or stable) and our steel ranges remained the same on all but galvanized (which was influenced by data coming from light gauge construction products market segments). Our Price Momentum Indicator continues to be pointing to a sideways pricing trend with a slight “negative” tilt. As we mention in our Price Momentum article in tonight’s issue most buyers are in a wait and see mode.

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-$470 per ton ($21.50/cwt- $23.50/cwt) with an average of $450 per ton ($22.50/cwt) FOB mill, east of the Rockies. Both the lower and upper ends of our range are unchanged compared to last week. Our overall average is the same compared to one week ago. SMU price momentum for hot rolled steel is Neutral at the moment but we are seeing short term pockets of weakness which could take prices lower over the next couple of weeks.

Hot Rolled Lead Times: 2-5 weeks.

Cold Rolled Coil: SMU Range is $550-$600 per ton ($27.50/cwt- $30.00/cwt) with an average of $575 per ton ($28.75/cwt) FOB mill, east of the Rockies. Both the lower and upper ends of our range are the same as they were one week ago. Our overall average is unchanged compared to last week. SMU price momentum on cold rolled steel is at Neutral but, like hot rolled above, we could see a weakening in prices over the next two or three weeks.

Cold Rolled Lead Times: 4-8 weeks.

Galvanized Coil: SMU Base Price Range is $27.50/cwt-$29.50/cwt ($550-$590 per ton) with an average of $28.50/cwt ($570 per ton) FOB mill, east of the Rockies. The lower end of our range declined $10 per ton compared to last week while the upper end remained the same. Our overall average is down $5 per ton compared to one week ago. Our price momentum on galvanized steel is Neutral with some pockets of short term weakness.

Galvanized .060” G90 Benchmark: SMU Range is $629-$659 per net ton with an average of $644 per ton FOB mill, east of the Rockies.

Galvanized Lead Times: 4-7 weeks.

Galvalume Coil: SMU Base Price Range is $28.50/cwt-$30.50/cwt ($570-$610 per ton) with an average of $29.50/cwt ($590 per ton) FOB mill, east of the Rockies. Both the lower and upper ends of our range are the same as they were one week ago. Our overall average is unchanged compared to last week. Like the other flat rolled products mentioned above our price momentum for Galvalume is currently pointing towards Neutral but with a short term downward tilt.

Galvalume .0142” AZ50, Grade 80 Benchmark: SMU Range is $861-$901 per net ton with an average of $881 per ton FOB mill, east of the Rockies.

Galvalume Lead Times: 5-7 weeks.

SMU Note: Below is a graphic showing our hot rolled, cold rolled, galvanized, and Galvalume price history. To use the graphs interactive capabilities, you must view it on our website here. 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.

John Packard

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