• Skip to main content

    Prices

    November 5, 2019

    SMU Price Ranges & Indices: Flat Rolled Price Momentum Adjusted to Higher

    Written by Brett Linton

    Flat rolled prices are beginning to shift gear and are slowly rising after the recent $40 per ton price increase announcements by the domestic steel mills. SMU continues to see a wide variety of pricing in our survey this week, but our channel checks are providing details of prices firming (although some mills appear to still have holes in their fourth-quarter order books). One service center told us this afternoon, “Things seem to be pretty good. We’re not worried about buying on allocation, but prices seem to be sticking.”

    SMU is seeing higher prices on all but plate this week. We are adjusting our Price Momentum Indicator on hot rolled, cold rolled, galvanized and Galvalume from Neutral to Higher. This means we anticipate flat rolled prices to move higher over the next 30 days. Our indicator on plate remains at Lower.

    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.

    Read more from Brett Linton

    Latest in Prices

    Mills seek more scrap after lower prices fail to attract tons

    Several mills that bought October scrap early last week are still asking for additional supplies, scrap market participants said. The reason: the mills' initial prices did not attract enough of the raw material, they said. A trading source based in northern Ohio said three mills have contacted his firm seeking offers for additional tons. He said the mills asked for offers even if prices were higher than their original buys last week.

    Nucor increases spot HR to $1,240/ton

    Nucor said on Monday, Oct. 12, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,240 per short ton (st) this week, a $10/st increase from a week earlier. The CSP for HR coil from California Steel Industries (CSI) on the West Coast will be $1,305/st, up $15/st from the prior week. Nucor is still offering lead times of three to five weeks, according to the letter to customers. You can track mill price announcements on our website. Steel Market Update (SMU) published a weekly price assessment on Tuesday, Oct. 6, showing HR coil prices averaging $1,270/st, up $10/st from the previous week. We will update our prices on the evening of Tuesday, Oct. 13.