Steel Products
SMU Price Ranges & Indices: Hot Rolled Hits $600
Written by Brett Linton
September 22, 2020
Flat rolled steel prices continue to rise as demand improves, lead times extend and supplies remain a bit tight. Prices rose a further $10-40 per ton, based on Steel Market Update’s check of the market this week, with hot rolled reaching the psychological high mark of $600 per ton. SMU’s price momentum indicators remain pointed higher as market conditions suggest the uptrend could continue.
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $580-$620 per net ton ($29.00-$31.00/cwt) with an average of $600 per ton ($30.00/cwt) FOB mill, east of the Rockies. Both the lower and upper ends of our range increased $20 per ton compared to one week ago. Our overall average is up $20 per ton from last week. Our price momentum on hot rolled steel is Higher, meaning prices are expected to rise in the next 30 days.
Hot Rolled Lead Times: 4-8 weeks
Cold Rolled Coil: SMU price range is $740-$780 per net ton ($37.00-$39.00/cwt) with an average of $760 per ton ($38.00/cwt) FOB mill, east of the Rockies. Both the lower and upper ends of our range increased $40 per ton compared to last week. Our overall average is up $40 per ton from one week ago. Our price momentum on cold rolled steel is Higher, meaning prices are expected to rise in the next 30 days.
Cold Rolled Lead Times: 5-8 weeks
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Galvanized Coil: SMU price range is $740-$800 per net ton ($37.00-$40.00/cwt) with an average of $770 per ton ($38.50/cwt) FOB mill, east of the Rockies. The lower end of our range increased $20 per ton compared to one week ago, while the upper end remained the same. Our overall average is up $10 per ton from last week. Our price momentum on galvanized steel is Higher, meaning prices are expected to rise in the next 30 days.
Galvanized .060” G90 Benchmark: SMU price range is $809-$869 per ton with an average of $839 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 6-9 weeks
Galvalume Coil: SMU price range is $780-$820 per net ton ($39.00-$41.00/cwt) with an average of $800 per ton ($40.00/cwt) FOB mill, east of the Rockies. Both the lower and upper ends of our range increased $20 per ton compared to last week. Our overall average is up $20 per ton from one week ago. Our price momentum on Galvalume steel is Higher, meaning prices are expected to rise in the next 30 days.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $1,071-$1,111 per ton with an average of $1,091 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 7-9 weeks
Plate: SMU price range is $590-$650 per net ton ($29.50-$32.50/cwt) with an average of $620 per ton ($31.00/cwt) FOB delivered to the customer’s facility. Both the lower and upper ends of our range remained unchanged compared to one week ago. Our overall average is unchanged from last week. Our price momentum on plate steel is now at Higher, meaning prices are expected to rise in the next 30 days.
Plate Lead Times: 4-6 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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