Steel Products Prices North America
SMU Price Ranges & Indices: Leaning Upward
Written by Brett Linton
October 29, 2019
The market is just starting to react to the $40 price increase announced by the flat rolled mills late last week, making it a little tricky to settle on the price ranges in this issue of Steel Market Update. Generally speaking, it appears flat rolled prices are leaning upward, though SMU’s Steel Price Momentum Indictor remains at Neutral until the market direction shakes out.
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $440-$520 per ton ($22.00-$26.00/cwt) with an average of $480 per ton ($24.00/cwt) FOB mill, east of the Rockies. The lower end of our range remained unchanged compared to one week ago, while the upper end increased $20 per ton. Our overall average is up $10 per ton compared to last week. Our price momentum on hot rolled steel is Neutral, meaning we expect prices to remain steady over the next 30 days.
Hot Rolled Lead Times: 2-6 weeks
Cold Rolled Coil: SMU price range is $640-$720 per ton ($32.00-$36.00/cwt) with an average of $680 per ton ($34.00/cwt) FOB mill, east of the Rockies. The lower end of our range remained the same compared to last week, while the upper end rose $20 per ton. Our overall average is up $10 per ton compared to one week ago. Our price momentum on cold rolled steel is now Neutral, meaning we expect prices to remain steady over the next 30 days.
Cold Rolled Lead Times: 3-8 weeks
Galvanized Coil: SMU base price range is $32.00-$36.00/cwt ($640-$720 per ton) with an average of $34.00/cwt ($680 per ton) FOB mill, east of the Rockies. The lower end of our range remained unchanged compared to one week ago, while the upper end rose $10 per ton. Our overall average is up $5 per ton compared to last week. Our price momentum on galvanized steel is now Neutral, meaning we expect prices to remain steady over the next 30 days.
Galvanized .060” G90 Benchmark: SMU price range is $709-$789 per net ton with an average of $749 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 5-8 weeks
Galvalume Coil: SMU base price range is $34.00-$35.00/cwt ($680-$700 per ton) with an average of $34.50/cwt ($690 per ton) FOB mill, east of the Rockies. The lower end of our range increased $20 per ton compared to last week, while the upper end declined $20 per ton. Our overall average is unchanged compared to one week ago. Our price momentum on cold rolled steel is now Neutral, meaning we expect prices to remain steady over the next 30 days.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $971-$991 per net ton with an average of $981 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 5-8 weeks
Plate: SMU price range is $620-$660 per ton ($31.00-$33.00/cwt) with an average of $640 per ton ($32.00/cwt) FOB delivered to the customer’s facility. Both the lower and upper ends of our range declined $10 per ton compared to one week ago. Our overall average is down $10 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: 4-6 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
Read more from Brett LintonLatest in Steel Products Prices North America
CRU: Longs pricing trends diverge in North, South America
Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]
Nucor cuts plate prices by $125/ton, cites ongoing competition
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.
Nucor cuts HR price for fourth straight week
Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).
Cliffs sets $720/ton HR price with opening of August books
Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]