SMU Price Ranges & Indices: HRC, GI and Plate Drop

The lower end of the range for galvanized (GI) also took a hit this week. The lower end dropped to $36.50/cwt base + extras and our average base price dropped to $29.375/cwt. Most of the buyers we spoke to over the past two days were referencing GI base prices as being in the $38.00/cwt-$39.00/cwt range with no major tonnage attached.

Galvalume (AZ) prices remained where they were this past week.

Here is how we see prices this week:

Hot Rolled Coil: SMU price range is $560-$615 per ton ($28.00/cwt-$30.75/cwt) with an average of $587.50 per ton ($29.375/cwt) FOB mill, east of the Rockies. The lower end of our range remained unchanged from our Sunday revision while the upper end declined $15 per ton. Our overall average is down $7.50 per ton compared to our revised average. Our price momentum on hot rolled steel is pointing to Lower indicating prices are expected to decline over the next 30 days.

Hot Rolled Lead Times: 2-4 weeks

Cold Rolled Coil: SMU price range is $760-$810 per ton ($38.00/cwt-$40.50/cwt) with an average of $785 per ton ($39.25/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 Lower indicating prices are expected to decline over the next 30 days.

Cold Rolled Lead Times: 5-8 weeks

Galvanized Coil: SMU base price range is $36.50/cwt-$40.50/cwt ($730-$810 per ton) with an average of $38.50/cwt ($770 per ton) FOB mill, east of the Rockies. The lower end of our range declined $30 per ton compared to one week ago while the upper end remained the same. Our overall average is down $15 per ton compared to last week. Our price momentum on galvanized steel is pointing to Lower indicating prices are expected to decline over the next 30 days.

Galvanized .060” G90 Benchmark: SMU price range is $808-$888 per net ton with an average of $848 per ton FOB mill, east of the Rockies. A note to our readers who also review other galvanized indexes: Right now, not all indexes are using the same G90 zinc coating extra on benchmark .060″ material. SMU uses $78 per ton, while at least one other index is using $86 per ton, which reflects the price change made by NLMK USA. SMU has not yet made a change as we wait for U.S. Steel, ArcelorMittal USA and Nucor to make adjustments to their extras.

Galvanized Lead Times: 4-10 weeks

Galvalume Coil: SMU base price range is $38.00/cwt-$40.50/cwt ($760-$810 per ton) with an average of $39.25/cwt ($785 per ton) 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 Galvalume steel is pointing to Lower indicating prices are expected to decline over the next 30 days.

Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $1,051-$1,101 per net ton with an average of $1,076 per ton FOB mill, east of the Rockies.

Galvalume Lead Times: 5-7 weeks

Plate: SMU price range is $640-$680 per ton ($32.00/cwt-$34.00/cwt) with an average of $660 per ton ($33.00/cwt) FOB delivered. The lower end of our range remained the same compared to one week ago while the upper end decreased $40 per ton. Our overall average is down $20 per ton over the past week. Our price momentum on plate steel is pointing to Lower indicating prices are expected to decline over the next 30 days.

Plate Lead Times: 3-5 weeks

SMU Note: Below is a graphic showing our hot rolled, cold rolled, galvanized, and Galvalume price history. We are in the process of adding prices to this graph. 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.