Steel Products Prices North America
SMU Price Ranges & Indices: Flat Week
Written by John Packard
August 1, 2017
Steel Market Update has seen a bit of a yo-yo effect to flat rolled and plate steel prices over the past few weeks. Since the word got out that the Section 232 decision would not be announced any time soon, the market has taken a step back to evaluate where prices will go from here. We saw hot rolled, cold rolled and galvanized averages as staying the same as last week, while our Galvalume and plate averages were up $5 per ton. Within the range, there have been adjustments, both up and down, which to us is a sign of a market looking for a catalyst to move one way or another.
At the moment, we continue to see flat rolled price momentum as being higher. However, this could change at any time–in either direction.
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $600-$650 per ton ($30.00/cwt-$32.50/cwt) with an average of $625 per ton ($31.25/cwt) FOB mill, east of the Rockies. The lower end of our range decreased $10 per ton compared to one week ago, while the upper end increased $10 per ton. Our overall average is unchanged compared to last week. Our price momentum on hot rolled steel is now pointing to Higher indicating prices are expected to increase over the next 30-60 days.
Hot Rolled Lead Times: 3-6 weeks
Cold Rolled Coil: SMU price range is $790-$840 per ton ($39.50/cwt-$42.00/cwt) with an average of $815 per ton ($40.75/cwt) FOB mill, east of the Rockies. Both the lower and upper ends of our range remained the same compared to last week. Our overall average is unchanged compared to one week ago. Our price momentum on cold rolled steel is pointing to Higher indicating 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 $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. 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 pointing to Higher indicating prices are expected to increase over the next 30-60 days.
Galvanized .060” G90 Benchmark: SMU price range is $858-$918 per net ton with an average of $888 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 4-9 weeks
Galvalume Coil: SMU base price range is $40.00/cwt-$42.00/cwt ($800-$840 per ton) with an average of $41.00/cwt ($820 per ton) FOB mill, east of the Rockies. The lower end of our range increased $20 per ton compared to last week, while the upper end decreased $20 per ton. Our overall average is unchanged compared to one week ago. Our price momentum on Galvalume steel is pointing to Higher indicating prices are expected to increase over the next 30-60 days.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $1,091-$1,131 per net ton with an average of $1,111 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 5-8 weeks
Plate: SMU price range is $680-$740 per ton ($34.00/cwt-$37.00/cwt) with an average of $710 per ton ($35.50/cwt) FOB delivered. The lower end of our range remained the same compared to one week ago, while the upper end increased $10 per ton. Our overall average is up $5 per ton compared to last week. Our price momentum on plate steel is pointing to Higher indicating prices are expected to increase over the next 30-60 days.
Plate Lead Times: 3-6 weeks
SMU Note: Below is a graphic showing our hot rolled, cold rolled, galvanized, and Galvalume price history. We will add plate prices to this graph once we have gathered a few months of data. To use the graph’s 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
Read more from John PackardLatest in Steel Products Prices North America
Plate Report: Mills Hold the Line Despite Slowing Demand
US plate prices have been relatively flat this year, especially when compared to sheet products. Case in point; SMU's plate prices stands at $1,455 per ton ($72.75 per cwt) on average, down 7% from a $1,560 per ton peak in April. Our HRC price is at $645 per ton, down 44% from an April peak of $1,160 per ton.
Nucor Maintains Plate Prices
Nucor Corp. will keep plate prices unchanged with the opening of its November order book.
Most Mills Still Willing To Negotiate Lower Sheet and Plate Prices: SMU Survey
The overall steel mill negotiation rate remained level this week vs. two weeks earlier, but plate’s rate fell by 15 percentage points, according to SMU’s most recent survey data.
SMU Price Ranges: Sheet Declines Moderate – Meaning or Noise?
Hot-rolled coil prices were down again this week, continuing a streak of week-over-week (WoW) declines that began in early/mid-July.
SMU Price Ranges: Sheet Slips Again on Strike, But Is a Bottom in Sight?
Sheet prices slipped again this week on news of the United Auto Workers (UAW) strike and continued caution among some consumers.