SMU Price Ranges & Indices: A Floor Has Appeared

Last week, the domestic steel mills raised prices on hot rolled, cold rolled and coated products (galvanized, Galvalume, etc.) by approximately $40 per ton ($2.00/cwt). Since then, we have seen lead times move on hot rolled by about 1 to 1.5 weeks, according to the steel buyers canvassed yesterday and today. Cold rolled and coated lead times move a little faster than HRC. The mills appear to be out of July production on HRC and into mid-late August and beyond for cold rolled and coated.

We heard there were a couple of mills that have indeed drawn a line in the sand and are holding out for price increases. We gathered hot rolled offers from a low of $500 to above $560 per ton (although we are not aware of any customers buying the $560+ HRC yet).

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

Brett Linton

Latest in Prices

Nucor increases spot HR by $10/ton

Plate supply squeeze tightens as demand presses higher

SSAB Americas hikes extras, doubles Grade 50 adder

Nucor Plate Group raises fuel surcharge to $20/ton for October

Nucor increases HR coil CSP to $1,200/ton