Steel Products Prices North America
SMU Price Ranges & Indices: Has Market Turned the Corner?
Written by Brett Linton
August 11, 2020
Steel Market Update’s check of the market this week shows flat rolled steel prices firming up a bit as demand slowly recovers from the coronavirus disruptions. SMU puts the current benchmark price for hot rolled at $465 per ton, up from $440 last week. SMU’s Price Momentum Indicators remain at Neutral, though the market may have found a bottom and turned the corner.
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $440-$490 per net ton ($22.00-$24.50/cwt) with an average of $465 per ton ($23.25/cwt) FOB mill, east of the Rockies. The lower end of our range increased $40 per ton compared to one week ago, while the upper end increased $10 per ton. Our overall average is up $25 per ton over last week. Our price momentum on hot rolled steel is at Neutral until the market establishes a clear direction.
Hot Rolled Lead Times: 3-6 weeks
Cold Rolled Coil: SMU price range is $640-$670 per net ton ($32.00-$33.50/cwt) with an average of $655 per ton ($32.75/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 increased $20 per ton. Our overall average is up $15 per ton from one week ago. Our price momentum on cold rolled steel is at Neutral until the market establishes a clear direction.
Cold Rolled Lead Times: 5-7 weeks
Galvanized Coil: SMU price range is $630-$690 per net ton ($31.50-$34.50/cwt) with an average of $660 per ton ($33.00/cwt) FOB mill, east of the Rockies. The lower end of our range was unchanged compared to one week ago, while the upper end increased $40 per ton. Our overall average is up $20 per ton over last week. Our price momentum on galvanized steel is at Neutral until the market establishes a clear direction.
Galvanized .060” G90 Benchmark: SMU price range is $699-$759 per ton with an average of $729 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 4-8 weeks
Galvalume Coil: SMU price range is $670-$700 per net ton ($33.50-$35.00/cwt) with an average of $685 per ton ($34.25/cwt) FOB mill, east of the Rockies. The lower and upper ends of the range were unchanged compared to last week. Our overall average is the same as 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 $961-$991 per ton with an average of $976 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 6-9 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. The lower end of our range decreased $10 per ton compared to one week ago, while the upper end increased $10 per ton. 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: Historical pricing data (not including this week’s prices) 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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