Steel Products
SMU Price Ranges & Indices: Some Weakening Seen
Written by Brett Linton
April 10, 2019
We saw weakness in a number of the products we index this week. We are not seeing a collapse of the market, and as we discuss in another article in tonight’s issue, there are regional and product differences. The various products are not working in concert right now. We moved our Price Momentum Indicators on hot rolled (lower), cold rolled and coated (neutral) and plate (lower) today.
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $650-$700 per ton ($32.50/cwt-$35.00/cwt) with an average of $675 per ton ($33.75/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 declined $20 per ton. Our overall average is down $10 per ton compared to last week. Our price momentum on hot rolled steel is Lower, meaning we expect prices to decline over the next 30 days.
Hot Rolled Lead Times: 2-6 weeks
Cold Rolled Coil: SMU price range is $800-$840 per ton ($40.00/cwt-$42.00/cwt) with an average of $820 per ton ($41.00/cwt) FOB mill, east of the Rockies. Both the lower and upper end of our ranges, as well as our average are unchanged compared to one week ago. Our price momentum on cold rolled steel is now at Neutral, meaning we expect prices to remain steady over the next 30 days.
Cold Rolled Lead Times: 5-8 weeks
Galvanized Coil: SMU base price range is $40.00/cwt-$43.00/cwt ($800-$860 per ton) with an average of $41.50/cwt ($830 per ton) FOB mill, east of the Rockies. The lower end of our range dropped $20 per ton compared to one week ago, while the upper end declined $10 per ton. Our overall average is down $15 per ton compared to last week. Our price momentum on galvanized steel is now at Neutral, meaning we expect prices to remain steady over the next 30 days.
Galvanized .060” G90 Benchmark: SMU price range is $878-$938 per net ton with an average of $908 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 5-8 weeks
Galvalume 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. The lower end of our range is unchanged compared to last week, while the upper end declined $10 per ton. Our overall average is down $5 per ton compared to one week ago. Our price momentum on Galvalume is now at Neutral, meaning we expect prices to remain steady over the next 30 days.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $1,111-$1,151 per net ton with an average of $1,131 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 5-7 weeks
Plate: SMU price range is $940-$1,000 per ton ($47.00/cwt-$50.00/cwt) with an average of $970 per ton ($48.50/cwt) FOB delivered to the customer’s facility. The lower end of our range fell by $30 per ton compared to one week ago, while the upper end remained unchanged. Our overall average is down $15 per ton compared to last week. Our price momentum on plate steel is Lower, meaning we expect prices to decline over the next 30 days.
Plate Lead Times: 5-7 weeks
SMU Note: Below is a graphic showing our hot rolled, cold rolled, galvanized, Galvalume and plate price history. This data is available here on our website with our interactive pricing tool. Note that plate prices are not yet available on our website, but we are in the process of adding that dataset. If you need help navigating the website or need to know your login information, contact us at info@SteelMarketUpdate.com or 800-432-3475.
Brett Linton
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