Prices
SMU Price Ranges & Indices: Firming and Waiting
Written by John Packard
March 7, 2017
Flat rolled steel prices firmed a little with benchmark hot rolled up $10 and cold rolled the same. Galvanized price average remained the same and Galvalume was up $5 per ton. We heard from a number of steel buyers that they were waiting to see what was going to happen with scrap prices (expectation was for higher scrap prices) and how the steel mills react to the new scrap numbers. Many buyers have told SMU that they are able to buy what they need, many are covered by contracts and those that do buy spot are not taking excessive positions. The market seems to be fairly priced and inventories seem to be balanced. We will watch what happens next as the expectation is for the domestic mills to go out for one more price increase…
Here is how we see prices this week:
Hot Rolled Coil: SMU Range is $610-$660 per ton ($30.50/cwt-$33.00/cwt) with an average of $635 per ton ($31.75/cwt) FOB mill, east of the Rockies. The lower end of our range remained the same compared to one week ago while the upper end increased $20 per ton. Our overall average is up $10 per ton compared to last week. Our price momentum on hot rolled steel is now pointing to Higher which means that prices are expected to increase over the next 30-60 days.
Hot Rolled Lead Times: 3-6 weeks
Cold Rolled Coil: SMU Range is $810-$860 per ton ($40.50/cwt-$43.00/cwt) with an average of $835 per ton ($41.75/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 compared to one week ago. Our price momentum on cold rolled steel is now pointing to Higher which means that prices are expected to increase over the next 30-60 days.
Cold Rolled Lead Times: 4-8 weeks
Galvanized Coil: SMU Base Price Range is $41.00/cwt-$43.00/cwt ($820-$860 per ton) with an average of $42.00/cwt ($840 per ton) FOB mill, east of the Rockies. Both the lower and upper ends of our range remained the same compared to one week ago. Our overall average is unchanged compared to last week. Our price momentum on galvanized steel is now pointing to Higher which means that prices are expected to increase over the next 30-60 days.
Galvanized .060” G90 Benchmark: SMU Range is $889-$929 per net ton with an average of $909 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 5-10 weeks
Galvalume Coil: SMU Base Price Range is $41.50/cwt-$43.00/cwt ($830-$860 per ton) with an average of $42.25/cwt ($845 per ton) FOB mill, east of the Rockies. The lower end of our range increased $10 per ton compared to last week while the upper end remained the same. Our overall average is up $5 per ton compared to one week ago. Our price momentum on Galvalume steel is now pointing to Higher which means that prices are expected to increase over the next 30-60 days.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU Range is $1121-$1151 per net ton with an average of $1136 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 5-8 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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