Steel Products Prices North America
SMU Price Ranges & Indices: Bouncing Along the Bottom?
Written by Brett Linton
August 4, 2020
Steel Market Update’s check of the market over the past two days shows that nearly 70 percent of steel buyers believe prices are near a bottom, and the numbers support that view, showing little variation from last week. SMU puts the benchmark average price for hot rolled steel at $450 per ton, unchanged from last week. SMU’s Price Momentum Indicators remain at Neutral as this is a market that may be in transition.
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $430-$470 per net ton ($21.50-$23.50/cwt) with an average of $450 per ton ($22.50/cwt) FOB mill, east of the Rockies. The lower end of our range increased $10 per ton compared to one week ago, while the upper end decreased $10 per ton. Our overall average is unchanged over last week. Our price momentum on hot rolled steel is now at Neutral until the market establishes a clear direction.
Hot Rolled Lead Times: 3-6 weeks
Cold Rolled Coil: SMU price range is $600-$670 per net ton ($30.00-$33.50/cwt) with an average of $635 per ton ($31.75/cwt) FOB mill, east of the Rockies. The lower end of our range decreased $20 per ton compared to last week, while the upper end increased $10 per ton. Our overall average is down $5 per ton from one week ago. Our price momentum on cold rolled steel is now at Neutral until the market establishes a clear direction.
Cold Rolled Lead Times: 4-6 weeks
Galvanized Coil: SMU price range is $610-$660 per net ton ($30.50-$33.00/cwt) with an average of $635 per ton ($31.75/cwt) FOB mill, east of the Rockies. The lower end of our range increased $10 per ton compared to one week ago, while the upper end remained the same. Our overall average is up $5 per ton over last week. Our price momentum on galvanized steel is now at Neutral until the market establishes a clear direction.
Galvanized .060” G90 Benchmark: SMU price range is $679-$729 per ton with an average of $704 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 4-8 weeks
Galvalume Coil: SMU price range is $650-$690 per net ton ($32.50-$34.50/cwt) with an average of $670 per ton ($33.50/cwt) FOB mill, east of the Rockies. The lower end of our range remained unchanged compared to last week, while the upper end increased $10 per ton. Our overall average is up $5 per ton 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 $941-$981 per ton with an average of $961 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 6-8 weeks
Plate: SMU price range is $570-$610 per net ton ($28.50-$30.50/cwt) with an average of $590 per ton ($29.50/cwt) FOB delivered to the customer’s facility. 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 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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