Flat rolled steel prices slipped across the board this past week as the domestic steel mills became more aggressive in order to finish filling their August order books (hot rolled) as well as September (cold rolled and coated). For the first time in many months, Steel Market Update adjusted our hot rolled and cold rolled prices twice during the week.
Both SteelBenchmarker and Platts reported prices this past week and both reported lower prices on all products with the exception of cold rolled where SteelBenchmarker increased their cold rolled number.
Benchmark hot rolled dropped by $10 per ton during the course of the week at both Platts and SMU with SteelBenchmarker down $8 over their last reported prices from a couple of weeks ago. With offers on hot rolled reported to SMU as being as low as $570 per ton we anticipate HRC will break through the $600 barrier soon.
Cold rolled dropped to $810 per ton at Platts and SMU with SteelBenchmarker coming in at +$1 at $816 per ton.
Galvanized .060” G90 at $875 per ton was down $5 per ton and Galvalume .0142” AZ50, Grade 80 at $1111 per ton was $10 per ton lower than the previous week.
SteelBenchmarker saw plate prices as down $8 per ton to $634 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 PackardRead more from John Packard
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