Steel Products Prices North America
SMU Price Ranges & Indices: Lower Still
Written by Brett Linton
May 21, 2019
Steel prices declined yet again this week with some hot rolled offers falling below the $600 per ton level, according to Steel Market Update data. The market will be watching intently in the coming weeks to see if imports from Canada and Mexico add to the downward price pressure, now that President Trump has removed the Section 232 tariffs.
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $570-$640 per ton ($28.50/cwt-$32.00/cwt) with an average of $605 per ton ($30.25/cwt) FOB mill, east of the Rockies. The lower end of our range fell $10 per ton compared to one week ago, while the upper end declined $30 per ton. Our overall average is down $20 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 $750-$820 per ton ($37.50/cwt-$41.00/cwt) with an average of $785 per ton ($39.25/cwt) FOB mill, east of the Rockies. The lower end of our range fell $10 per ton compared to last week, while the upper end rose $20 per ton. Our overall average is up $5 per ton compared to one week ago. Our price momentum on cold rolled steel is now at Lower, meaning we expect prices to decline over the next 30 days.
Cold Rolled Lead Times: 4-9 weeks
Galvanized Coil: SMU base price range is $37.50/cwt-$40.50/cwt ($750-$810 per ton) with an average of $39.00/cwt ($780 per ton) FOB mill, east of the Rockies. The lower end of our range declined $10 per ton compared to one week ago, while the upper end rose $10 per ton. Our overall average is unchanged compared to last week. Our price momentum on galvanized steel is now at Lower, meaning we expect prices to decline over the next 30 days.
Galvanized .060” G90 Benchmark: SMU price range is $828-$888 per net ton with an average of $858 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 5-7 weeks
Galvalume Coil: SMU base price range is $38.00/cwt-$41.00/cwt ($760-$820 per ton) with an average of $39.50/cwt ($790 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 is now at Lower, meaning we expect prices to decline over the next 30 days.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $1,051-$1,111 per net ton with an average of $1,081 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 6-7 weeks
Plate: SMU price range is $890-$960 per ton ($44.50/cwt-$48.00/cwt) with an average of $925 per ton ($46.25/cwt) FOB delivered to the customer’s facility. The lower end of our range declined $10 per ton compared to one week ago, while the upper end rose $10 per ton. Our overall average is unchanged 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: 4-5 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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