Steel Products Prices North America
SMU Price Ranges & Indices: Lower Prices
Written by Brett Linton
September 17, 2019
Flat rolled and plate steel prices have definitely reversed course and are moving lower, based on the results of our market analysis this week. We found the number of steel buyers actually buying steel to be limited. Sentiment has become negative and price momentum has shifted to Lower on all products as demand is now in question (see Price Momentum article in tonight’s issue).
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $540-$580 per ton ($27.00-$29.00/cwt) with an average of $560 per ton ($28.00/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 decreased $20 per ton. Our overall average is down $15 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: 3-6 weeks
Cold Rolled Coil: SMU price range is $720-$760 per ton ($36.00-$38.00/cwt) with an average of $740 per ton ($37.00/cwt) FOB mill, east of the Rockies. The lower end of our range remained unchanged compared to last week, while the upper end decreased $10 per ton. Our overall average is down $5 per ton compared to one week ago. Our price momentum on cold rolled steel is now Lower, meaning we expect prices to decline over the next 30 days..
Cold Rolled Lead Times: 4-8 weeks
Galvanized Coil: SMU base price range is $35.50-$38.00/cwt ($710-$760 per ton) with an average of $36.75/cwt ($735 per ton) FOB mill, east of the Rockies. The lower end of our range remained the same compared to one week ago, while the upper end fell $20 per ton. Our overall average is down $10 per ton compared to last week. Our price momentum on galvanized steel is now Lower, meaning we expect prices to decline over the next 30 days.
Galvanized .060” G90 Benchmark: SMU price range is $788-$838 per net ton with an average of $813 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 4-9 weeks
Galvalume Coil: SMU base price range is $36.50-$38.50/cwt ($730-$770 per ton) with an average of $37.50/cwt ($750 per ton) FOB mill, east of the Rockies. Both the lower and upper ends of our range declined $10 per ton compared to last week. Our overall average is down $10 per ton compared to one week ago. Our price momentum on cold rolled steel is now Lower, meaning we expect prices to decline over the next 30 days.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $1,021-$1,061 per net ton with an average of $1,051 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 6-10 weeks
Plate: SMU price range is $700-$760 per ton ($35.00-$38.00/cwt) with an average of $730 per ton ($36.50/cwt) FOB delivered to the customer’s facility. The lower end of our range declined $20 per ton compared to one week ago, while the upper end fell $45 per ton. Our overall average is down $32.50 per ton compared to last week. Our price momentum on plate steel is now Lower, meaning we expect prices 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, 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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