Flat rolled steel prices continued their march higher this past week with both SMU and Platts reporting movement in the average prices of hot rolled, cold rolled, galvanized, Galvalume and plate products.
Platts moved their prices by large double digits this past week. Platts took hot rolled up $35 per ton, cold rolled up $45 per ton and plate up $55 per ton.
Steel Market Update (SMU) was more measured based on the results of our mid-November market trends survey which was completed just before the Thanksgiving Holiday in the United States. The SMU hot rolled number was up $5 per ton to $545 per ton, cold rolled was also up $5 per ton to $745 per ton.
Galvanized products were impacted in two ways: the base price rose but at the same time the new coating extras also came into play. The coating extra change on .060″ G90 represented $9 per ton of the $34 per ton movement we reported this past week.
Galvalume prices increased by $25 per ton with .0142″ AZ50, Grade 80 now averaging $1056 per ton ($52.80/cwt).
Platts discrete plate prices now average $510 per ton and are up a whopping $55 per ton in one week’s time.
SteelBenchmarker did not report prices this past week.
FOB Points for each index:
SMU: Domestic Mill, East of the Rockies.
SteelBenchmarker: Domestic Mill, East of the Mississippi.
Platts: Northern Indiana Domestic Mill.
Note that SteelBenchmarker produces numbers twice per month. On the weeks they produce numbers we will include them in the average. The weeks where they do not produce numbers (NA = not available) we will not include their outdated numbers in the CPI average.
John PackardRead more from John Packard
Latest in Steel Products Prices North America
Cliffs moves sheet prices higher, seeks $1,100/ton HRC
Cleveland-Cliffs is now targeting base prices of $1,100 per ton ($55 per cwt) for hot-rolled coil (HRC).
SMU price ranges: Sheet surge continues on limited spot availability
Sheet prices shot higher again this week on the heels of another round of mill price increases as well as on reports of production and supply chain issues at certain domestic producers.
Galvanized Sheet’s Premium Over Hot Rolled Hovering Around $200/Ton
The spread between hot-rolled coil (HRC) and galvanized sheet base prices has been hovering near $200 per net ton since late July, according to SMU’s latest analysis.
Plate Report: Quiet Turning to Sluggish?
The US plate market has been rather quiet over the past couple of weeks since Nucor Corp. caught many off guard with a $140-per-ton price cut.
SSAB’s Jeff Moskaluk on Wind’s Flurry of Opportunity for Steel
SMU discussed wind energy, a promising end-use market for steel, with SSAB Americas’ SVP and CCO Jeff Moskaluk.