Steel Products Prices North America
SMU Price Ranges & Indices: No Virus Effect Yet
Written by Brett Linton
March 10, 2020
Steel prices saw only small movement this week, with Galvalume up a bit and plate down a bit. We don’t expect that to be the case moving forward as the market really begins to feel the effects of the coronavirus on the economy and oil prices. In the meantime, Steel Market Update’s Price Momentum Indicators remain unchanged at neutral on flat rolled and lower on plate products until the market establishes a clear direction.
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $550-$610 per ton ($27.50-$30.50/cwt) with an average of $580 per ton ($29.00/cwt) FOB mill, east of the Rockies. The lower end of our range declined $10 per ton to one week ago, while the upper end rose $10. Our overall average is unchanged over last week. Our price momentum on hot rolled steel is now Neutral until the market establishes a clear direction.
Hot Rolled Lead Times: 3-7 weeks
Cold Rolled Coil: SMU price range is $740-$800 per ton ($37.00-$40.00/cwt) with an average of $770 per ton ($38.50/cwt) FOB mill, east of the Rockies. Both the lower and upper ends of our range remained the same compared to last week. Our overall average is unchanged over one week ago. Our price momentum on cold rolled steel is now Neutral until the market establishes a clear direction.
Cold Rolled Lead Times: 5-8 weeks
Galvanized Coil: SMU base price range is $37.00-$40.00/cwt ($740-$800 per ton) with an average of $38.50/cwt ($770 per ton) FOB mill, east of the Rockies. Both the lower and upper ends of our range remained the same compared to one week ago. Our overall average is unchanged over last week. Our price momentum on galvanized steel is now Neutral until the market establishes a clear direction.
Galvanized .060” G90 Benchmark: SMU price range is $809-$869 per net ton with an average of $839 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 6-8 weeks
Galvalume Coil: SMU base price range is $39.00-$41.00/cwt ($780-$820 per ton) with an average of $40.00/cwt ($800 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 remained the same. Our overall average is up $10 per ton over one week ago. Our price momentum on Galvalume steel is now Neutral until the market establishes a clear direction.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $1,071-$1,111 per net ton with an average of $1,091 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 6-9 weeks
Plate: SMU price range is $620-$680 per ton ($31.00-$34.00/cwt) with an average of $650 per ton ($32.50/cwt) FOB delivered to the customer’s facility. The lower end of our range decreased $20 per ton compared to one week ago, while the upper end remained the same. Our overall average is down $10 per ton over last week. Our price momentum on plate steel is Lower, meaning we expect prices to decline over the next 30 days.
Plate Lead Times: 4-5 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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