SMU Price Ranges & Indices: Ranges Change/Prices Slip

We saw modest movement in hot rolled this week as our survey respondents, both manufacturing and service centers, were consistent in reporting a decrease in the upper end of our range while holding the line at the bottom. As we reviewed the data, the vast majority of buyers were reporting numbers in the $460-$480 range with smaller data points at the upper and lower ends of the range. Cold rolled remained unchanged. Galvanized data points were all over the board. We did collect data points below the $32.00/cwt low end but they were few and far between, so we eliminated them as outliers for this week. At the same time, it is important to note that we also had GI pricing being reported above last week’s numbers, and there was enough volume for us to include them in this week’s range. Galvalume was lower as we collected numbers from end users and service centers and had one of the domestic mills confirm a weakening in their range compared to one week ago. Our plate range is reduced, but this was due to having a lower number of data providers this week compared to one week ago, and we will watch plate closely over the coming days.

Here is how we see prices this week: