Steel Products

Flat Rolled Steel Prices Down But No Collapse
Written by Brett Linton
March 25, 2020
Steel prices continue to weaken due to the coronavirus’ effect on demand, but have not collapsed as many fear. Galvanized steel saw the biggest decline in the past week, with smaller adjustments for hot rolled and cold rolled products.
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 remained unchanged compared to one week ago, while the upper end declined $10 per ton. Our overall average is down $5 per ton over last week. Our price momentum on hot rolled steel is now Neutral until the market establishes a clear direction.
Hot Rolled Lead Times: 3-8 weeks
Cold Rolled Coil: SMU price range is $740-$760 per ton ($37.00-$38.00/cwt) with an average of $750 per ton ($37.50/cwt) FOB mill, east of the Rockies. The lower end of our range increased $10 per ton compared to last week, while the upper end declined $30. Our overall average is down $10 per ton 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: 4-8 weeks
Galvanized Coil: SMU base price range is $35.00-$39.00/cwt ($700-$780 per ton) with an average of $37.00/cwt ($740 per ton) FOB mill, east of the Rockies. The lower end of our range declined $50 per ton to one week ago, while the upper end declined $10. Our overall average is down $30 per ton 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 $769-$849 per net ton with an average of $809 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 6-8 weeks
ARTICLE CONTINUES BELOW
{loadposition reserved_message}
Galvalume Coil: SMU base price range is $38.00-$39.50/cwt ($760-$790 per ton) with an average of $38.75/cwt ($775 per ton) FOB mill, east of the Rockies. The lower end of our range increased $10 per ton compared to last week, while the upper end declined $10. Our overall average is unchanged 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 $1,051-$1,081 per net ton with an average of $1,066 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 6-8 weeks
Plate: SMU price range is $640-$660 per ton ($32.00-$33.00/cwt) with an average of $650 per ton ($32.50/cwt) FOB delivered to the customer’s facility. The lower end of our range increased $20 per ton compared to one week ago, while the upper end declined $20. Our overall average is unchanged 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
Read more from Brett LintonLatest in Steel Products

Nucor keeps HRC price unchanged
Nucor paused its weekly hot-rolled (HR) coil price this week, keeping it flat for the first time since Jan. 21. This comes after a nine-week rally that saw the company increase prices by double-digits for eight of those weeks.

Nucor increases plate prices by $40/ton
Nucor aims to increase prices for steel plate by $40 per short ton (st) with the opening of its May order book. The Charlotte, N.C.-based steelmaker said the increase was effective with new orders received on Friday, March 28, in a letter to customers dated the same day. The company said the price hike applied […]

US CRC price gains ground over imports
US cold-rolled (CR) coil prices increased again this week, while offshore prices declined.

SMU Steel Demand Index momentum slows
Steel Market Update is pleased to share this Premium content with Executive members. Contact info@steelmarketupdate.com for information on how to upgrade to a Premium-level subscription. Growth in SMU’s Steel Demand Index eased in March after reaching a four-year high in late February. Despite a moderate gain, the index remains in expansion territory. The Steel Demand […]

Leibowitz: Impact of tariffs on US manufacturers
On February 10, President Trump announced a massive restructuring of tariffs on steel and aluminum. Those changes took effect on March 12, and they will impact US manufacturing. What will the impact be? Bye-bye exclusions Perhaps the most important change, which hits imports from all countries, is the loss of a product exclusion process to […]