Steel Products Prices North America
Comparison Price Indices: More Slippage
Written by John Packard
August 28, 2016
Flat rolled prices dropped for yet another week with benchmark hot rolled coil moving below the $600 per ton mark. The three indexes SMU follows had hot rolled coil averaging $590 to $598 per ton. SMU understands there are offers for HRC out there at the $570 level and potentially less than that for large tonnage orders and we continue to have our Price Momentum Indicator pointing toward lower prices over the next 30 days.
Cold rolled prices are sitting at, or close to, $800 per ton ($40.00/cwt) with SMU cold rolled average down $10 per ton for the week while Platts remained the same at $800 per ton. SteelBenchmarker reported prices this past week and had CR averaging $794 per ton.
Galvanized .060” G90 was down $5 per ton to $860 per ton. The $860 number includes $60 worth of coating extras. When the extras are removed the starting base price is $800 per ton or $40.00/cwt, the same as cold rolled shown above.
Galvalume .0142” AZ50, Grade 80 average remained the same as the prior week at $1101 per ton.
Plate prices dropped dramatically on both Platts ($560 per ton) and SteelBenchmarker ($583 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 successfully completes IOSCO review
SMU has successfully completed an external review of all our prices. The review has concluded that they algin with principles set by the International Organization of Securities Commissions (IOSCO).
Domestic plate prices could heat up despite so-so demand, market sources say
Some sources also speculated that plate could see further price increases thanks to modest but steady demand, lower imports, mill maintenance outages, and end markets less immediately affected by tariff-related disruptions.
SMU Price Ranges: HR holds, galv slips amid competing market narratives
SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.
Nucor carries $875/ton HR list price into week seven
Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Oct. 6
SMU Price Ranges: A newsy week sees modest price gains despite a quiet spot market
Market participants predicted that prices should be at or near a bottom. But while most seemed to agree on that point, many also said they saw little upside given a quiet spot market and ongoing concerns about demand.