Steel Products Prices North America
SMU Price Ranges & Indices: Momentum and Prices Slip
Written by John Packard
August 16, 2016
Flat rolled steel prices continued their slow slide as hot rolled offers below $600 per ton became commonplace. We have also seen lead times shrinking, demand in question and service center inventories grow. The combination of these and other factors caused SMU to adjust our Price Momentum Indicator to Lower from Neutral where it had been for 9 weeks.
Here is how we see prices this week:
Hot Rolled Coil: SMU Range is $570-$620 per ton ($28.50/cwt- $31.00/cwt) with an average of $595 per ton ($29.75/cwt) FOB mill, east of the Rockies. The lower end of our range remained the same compared to last week while the upper end decreased $10 per ton. Our overall average is down $5 per ton over last week. Our price momentum on hot rolled steel is for prices to trend lower over the next 30 days.
Hot Rolled Lead Times: 2-5 weeks
Cold Rolled Coil: SMU Range is $790-$830 per ton ($39.50/cwt- $41.50/cwt) with an average of $810 per ton ($40.50/cwt) FOB mill, east of the Rockies. The lower end of our range decreased $10 per ton compared to last week while the upper end increased $10 per ton. Our overall average is unchanged over last week. Our price momentum on cold rolled steel is for prices to trend lower over the next 30 days.
Cold Rolled Lead Times: 4-7 weeks
Galvanized Coil: SMU Base Price Range is $39.00/cwt-$41.50/cwt ($780-$830 per ton) with an average of $40.25/cwt ($805 per ton) FOB mill, east of the Rockies. The lower end of our range decreased $20 per ton compared to last week while the upper end remained the same. Our overall average is down $10 per ton over last week. Our price momentum on galvanized steel is for prices to trend lower over the next 30 days.
Galvanized .060” G90 Benchmark: SMU Range is $840-$890 per net ton with an average of $865 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 2-8 weeks
Galvalume Coil: SMU Base Price Range is $39.00/cwt-$42.00/cwt ($780-$840 per ton) with an average of $40.50/cwt ($810 per ton) FOB mill, east of the Rockies. The lower end of our range decreased $20 per ton compared to last week while the upper end remained the same. Our overall average is down $10 per ton over last week. Our price momentum on Galvalume steel is for prices to trend lower over the next 30 days.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU Range is $1071-$1131 per net ton with an average of $1101 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 4-8 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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