Steel Products Prices North America

Comparison Price Indices: Hot Rolled Moving on Up
Written by John Packard
April 3, 2016
Flat rolled steel prices continue to climb and there is quite a range out there when looking at the various indices. It is SMU opinion that the variances are due to collection techniques and the amount of data available to any specific index at the time they produce their numbers. SMU and Platts take into consideration the “asks” (what the mills are requesting be paid) and “bids” what the buyers are willing to pay. We also take into consideration how much “flexibility” we are finding with the mills as they negotiate with their customers.
We are seeing all items climbing including hot rolled steel which is clearly headed toward $460 per ton and probably higher in the coming weeks.
SMU held our number on benchmark hot rolled at $440 per ton which is the average of our range $420-$460 per ton. Our Momentum Indicator is pointing toward higher prices and the number of offers at $460 is clearly growing.
Platts took their HR number to $460 by the end of the week (they moved up twice during the week) while SteelBenchmarker came out at $423 per ton (SteelBenchmarker only reports pricing twice per month).
Cold rolled prices rose on all three indexes: Platts ($620), SMU ($615) and SteelBenchmarker ($595).
We also took our galvanized .060” G90 index average up $8 per ton while holding Galvalume .0142” AZ50, Grade 80 at the same number as the previous week.
Plate prices were up by double digits with Platts moving up $15 to $540 per ton and SteelBenchmarker up $36 from their last report to $518 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

SMU Price Ranges: Sheet and plate steady ahead of Independence Day
Sheet and plate prices were little changed in the shortened week ahead of Independence Day, according to SMU’s latest check of the market.

Nucor maintains plate prices, opens August order book
Nucor aims to keep plate prices flat again with the opening of its August order book.

Nucor CSP remains level at $900/ton
Nucor maintained its weekly list price for hot-rolled (HR) coil this week, following two consecutive increases.

Cliffs raises prices, seeks $950/ton for July spot HR
Cleveland-Cliffs plans to increase prices for hot-rolled (HR) coil to $950 per short ton (st) with the opening of its July spot order book. The Cleveland-based steelmaker said the price hike was effective immediately in a letter to customers dated Monday.

HRC vs. prime scrap spread widens in June
The price spread between HRC and prime scrap widened in June.