Prices
Comparison Price Indices: Essentially Unchanged
Written by John Packard
September 10, 2017
There was little movement in the steel indexes followed by Steel Market Update (SMU) last week. Both Platts and SMU have hot rolled average as being $630 per ton ($31.50/cwt). Cold rolled average was $805 (+$5) out of Platts and $810 (-$5) on our own CRC index.
Galvanized was up $5 to $893 per ton for .060″ G90 and $1116 per ton for .0142″ AZ50, Grade 80 (+10) Galvalume.
Plate prices were unchanged on both indexes with SMU at $710 per ton (delivered) while Platts was $680 per ton FOB SE steel mill.
SMU Note: Galvanized prices include $78 in extras for a .060″ G90 product. Galvalume prices include $291 in extras for a .0142” AZ50 Grade 80 product.
FOB points for each index:
SMU: Domestic Mill, East of the Rockies.
SteelBenchmarker: Domestic Mill, East of the Mississippi.
Platts: Northern Indiana Domestic Mill.
Plate price FOB points are different for each of the indexes:
SMU: FOB Delivered to the Customer (includes freight)
Platts: FOB Southeaster Mill (does not include freight)
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 The weeks where they do not produce numbers (NA = not available) we will not include their outdated numbers in the CPI average.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 Packard
Read more from John PackardLatest in Prices
SMU Survey: Mills less negotiable on spot prices
Most steel buyers responding to our market survey this week reported that domestic mills are considerably less willing to talk price on sheet and plate products than they were in recent weeks.
Price gap between US HRC, most imports narrows slightly
In dollar-per-ton terms, US product is on average $141/st less than landed import prices (inclusive of the 50% tariff). That’s down from $148/st last week.
SMU price ranges: Sheet ticks higher, plate stable
Sheet steel indices increased across the board this week, while plate prices held steady. All five of SMU’s price indices are higher than they were two weeks ago, and all but one are above levels recorded four weeks ago.
Nucor lifts HR spot price by $10/ton
Nucor has raised its weekly spot list price on hot-rolled coil by $10 per short ton (st) after keeping it unchanged since Aug. 25.
Atlas Tube up $50/ton following NLMK USA sheet price hike
Atlas Tube, in a leading move, said it aims to increase prices for mechanical tubing, hollow structural sections (HSS), and piling products by at least $50 per short ton (st).