Steel Products Prices North America
SMU Price Ranges & Indices: Hot Rolled Down to $480
Written by Brett Linton
June 30, 2020
After canvassing the market this week, Steel Market Update has moved its price momentum indicator on hot rolled, cold rolled and galvanized steel products to Lower. All three products saw further declines since last week as the market stuggles to gain some traction. With anxiety high over a possible surge in coronavirus cases, and scrap prices poised to dip further in July, it’s most likely that prices will continue to weaken in the next 30-60 days. Price momentum on Galvalume and plate products remains at Neutral, as their trend is less clear.
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $460-$500 per ton ($23.00-$25.00/cwt) with an average of $480 per ton ($24.00/cwt) FOB mill, east of the Rockies. 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 over last week. Our price momentum on hot rolled steel is now at Lower, meaning we expect prices to decline over the next 30-60 days.
Hot Rolled Lead Times: 2-4 weeks
Cold Rolled Coil: SMU price range is $640-$680 per ton ($32.00-$34.00/cwt) with an average of $660 per ton ($33.00/cwt) FOB mill, east of the Rockies. The lower end of our range remained unchanged compared to last week, while the upper end declined $10. Our overall average is down $5 per ton over one week ago. Our price momentum on cold rolled steel is now at Lower, meaning we expect prices to decline over the next 30-60 days.
Cold Rolled Lead Times: 4-8 weeks
Galvanized Coil: SMU price range is $630-$680 per ton ($31.50-$34.00/cwt) with an average of $655 per ton ($32.75/cwt) FOB mill, east of the Rockies. The lower end of our range decreased $10 per ton compared to one week ago, while the upper end remained unchanged. Our overall average is down $5 per ton over last week. Our price momentum on galvanized steel is now at Lower, meaning we expect prices to decline over the next 30-60 days.
Galvanized .060” G90 Benchmark: SMU price range is $699-$749 per net ton with an average of $724 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 4-8 weeks
Galvalume Coil: SMU price range is $680-$700 per ton ($34.00-$35.00/cwt) with an average of $690 per ton ($34.50/cwt) FOB mill, east of the Rockies. The lower end of our range increased $10 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 at Neutral until the market establishes a clear direction.
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: 5-7 weeks
Plate: SMU price range is $590-$640 per ton ($29.50-$32.00/cwt) with an average of $615 per ton ($30.75/cwt) FOB delivered to the customer’s facility. The lower end of our range decreased $10 per ton compared to one week ago, while the upper end remained unchanged. Our overall average is down $5 per ton over last week. Our price momentum on plate steel is at Neutral until the market establishes a clear direction.
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. If you need help navigating the website or need to know your login information, contact us at info@SteelMarketUpdate.com.
Brett Linton
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