Prices
SMU Price Ranges & Indices: Prices Slip as Mills Announce Increases
Written by John Packard
August 15, 2017
Flat rolled steel prices slipped over the past week just as the domestic steel mills began to announce new price increases. Were the increases in reaction to the slippage? Were they in response to new higher scrap costs for August delivery? Most likely, it was a combination of both.
We found the spread widening on most flat rolled products compared to what we saw last Tuesday evening.
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $590-$640 per ton ($29.50/cwt-$32.00/cwt) with an average of $615 per ton ($30.75/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 remained the same. Our overall average is down $5 per ton compared to last week. Our price momentum on hot rolled steel is now pointing to Neutral indicating prices are expected to remain steady over the next 30-60 days.
Hot Rolled Lead Times: 3-6 weeks
Cold Rolled Coil: SMU price range is $750-$840 per ton ($37.50/cwt-$42.00/cwt) with an average of $795 per ton ($39.75/cwt) FOB mill, east of the Rockies. The lower end of our range decreased $30 per ton compared to last week, while the upper end remained the same. Our overall average is down $15 per ton compared to one week ago. Our price momentum on cold rolled steel is pointing to Neutral indicating prices are expected to remain steady over the next 30-60 days.
Cold Rolled Lead Times: 4-8 weeks
Galvanized Coil: SMU base price range is $38.50/cwt-$42.00/cwt ($770-$840 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 $10 per ton compared to one week ago, while the upper end remained the same. Our overall average is down $5 per ton compared to last week. Our price momentum on galvanized steel is pointing to Neutral indicating prices are expected to remain steady over the next 30-60 days.
Galvanized .060” G90 Benchmark: SMU price range is $848-$918 per net ton with an average of $883 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 4-10 weeks
Galvalume Coil: SMU base price range is $39.50/cwt-$42.00/cwt ($790-$840 per ton) with an average of $40.75/cwt ($815 per ton) FOB mill, east of the Rockies. The lower end of our range decreased $10 per ton compared to last week, while the upper end remained the same. Our overall average is down $5 per ton compared to one week ago. Our price momentum on Galvalume steel is pointing to Neutral indicating prices are expected to remain steady over the next 30-60 days.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $1,081-$1,131 per net ton with an average of $1,106 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 5-8 weeks
Plate: SMU price range is $670-$720 per ton ($33.50/cwt-$36.00/cwt) with an average of $695 per ton ($34.75/cwt) FOB delivered. The lower end of our range remained the same compared to one week ago, while the upper end decreased $5 per ton. Our overall average is down $2.50 per ton compared to last week. Our price momentum on plate steel is pointing to Neutral indicating prices are expected to remain steady over the next 30-60 days.
Plate Lead Times: 4-6 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.
Written by John Packard, John@SteelMarketUpdate.com
John Packard
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