Steel Products Prices North America
SMU Price Ranges & Indices: Hot Roll Dips Below $500
Written by Brett Linton
April 14, 2020
The benchmark price for hot rolled steel dipped below the $500 per ton mark this week, but not by much. Flat rolled prices have been on the decline over the past several weeks, but their descent appears to be slowing. That may mean the mills’ decision to idle furnaces and reduce production to bring it more in line with demand is starting to take effect. Or perhaps that demand is proving more resilient than expected in certain sectors despite the coronavirus disruptions. SMU’s price momentum continues to point Lower.
Here is how we are seeing prices this week:
Hot Rolled Coil: SMU price range is $460-$530 per ton ($23.00-$26.50/cwt) with an average of $495 per ton ($24.75/cwt) FOB mill, east of the Rockies. The lower end of our range declined $20 per ton compared to one week ago, while the upper end increased $10. Our overall average is down $5 per ton over last week. Our price momentum on hot rolled steel is Lower, meaning we expect prices to decline over the next 30 days.
Hot Rolled Lead Times: 2-4 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 decreased $40 per ton compared to last week, while the upper end remained unchanged. Our overall average is down $20 per ton over one week ago. Our price momentum on cold rolled steel is Lower, meaning we expect prices to decline over the next 30 days.
Cold Rolled Lead Times: 4-7 weeks
Galvanized Coil: SMU base price range is $32.50-$36.00/cwt ($650-$720 per ton) with an average of $34.25/cwt ($685 per ton) FOB mill, east of the Rockies. The lower end of our range increased $10 per ton to one week ago, while the upper end rose $20. Our overall average is up $15 per ton over last week. Our price momentum on galvanized steel is Lower, meaning we expect prices to decline over the next 30 days.
Galvanized .060” G90 Benchmark: SMU price range is $719-$789 per net ton with an average of $754 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 4-6 weeks
Galvalume Coil: SMU base price range is $33.50-$37.00/cwt ($670-$740 per ton) with an average of $35.25/cwt ($705 per ton) 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 Galvalume steel is Lower, meaning we expect prices to decline over the next 30 days.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $961-$1,031 per net ton with an average of $996 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 5-6 weeks
Plate: SMU price range is $590-$650 per ton ($29.50-$32.50/cwt) with an average of $620 per ton ($31.00/cwt) FOB delivered to the customer’s facility. The lower end of our range declined $10 per ton compared to one week ago, while the upper end increased $20. Our overall average is up $5 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: 3-5 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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