Steel Products Prices North America
Comparison Price Indices: There is More Upside to Come
Written by John Packard
December 20, 2015
We are at the point of the turn and watching how quickly each index reports the change. From Steel Market Update’s view, we saw all flat rolled products pricing rising this past week and we expect most, if not all, of the price increase announcements made to be collected by the domestic steel mills and be reflected in the various indexes by the end of the month.
Hot rolled prices rose on all but SteelBenchmarker (who only reports prices twice per month) as we took our HRC index up $10 per ton to $370 per ton while Platts was up $15 per ton to $380. The average of the three indices is $375 per ton.
Cold rolled prices rose even more dramatically than hot rolled, with SMU numbers up $18 per ton to $500 per ton, SteelBenchmarker up $5 to $507 and, by the end of the week, Platts had taken their CR average up $30 per ton to $525 per ton. The average of the three is $511 per ton.
Galvanized is up $23 per ton with .060” G90 galvanized now at $565 per ton. This puts our average base price at $505 per ton ($25.25/cwt) and rising…
Galvalume was up $3 per ton with .0142” AZ50, Grade 80 now at $806 per ton.
Plate was the one product where we did not see any increase as Platts remained the same at $457.50 per ton and SteelBenchmarker saw plate as down $7 per ton to $442 per ton.
FOB Points for each index:
SMU: Domestic Mill, East of the Rockies.
SteelBenchmarker: Domestic Mill, East of the Mississippi.
Platts: Northern Indiana Domestic Mill.
John Packard
Read more from John PackardLatest in Steel Products Prices North America
HRC-galvanized price gap edges higher
The premium galvanized coil carries over hot-rolled coil (HRC) coil has marginally widened in recent months. As of Sept. 16, the spread between these two products reached a three-month high of $175 per short ton (st), though it is still low by historical standards.
SMU Price Ranges: HR slips, hopes for Q4 rebound still standing
SMU’s price ranges were mixed again this week as the market continues to seek a floor amid industry hopes for a Q4 rebound.
Nucor’s hot band list price holds at $875/ton
Nucor held its hot-rolled coil list price flat again this week, according to its Monday, Sept. 15 consumer spot price (CSP) notice.
Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.
SMU Price Ranges: Some predict bottom is near as big discounts dry up
Sheet prices were mixed this week as some mills continued to offer significant discounts to larger buyers while others have shifted toward being more disciplined, market participants said.