SMU Price Ranges & Indices: Flat Rolled, Plate Move Higher

Steel prices are showing some strength in the fourth quarter as mill lead times remain extended, competition from imports is minimal, inventories are near record lows and demand is maintaining momentum as the economy slowly recovers from COVID. Supplies remain tight as a strike, unplanned outages and planned maintenance are keeping mill capacity below normal levels. Assessing flat rolled prices was a bit trickier than usual this week, as mill order books are largely full and availability is limited, especially for Galvalume. SMU puts the benchmark price for hot rolled at $675 this week, though buyers reported numbers considerably higher and lower. Increases announced by the plate mills in the past week should add upward pressure to plate prices. Steel Market Update’s Price Momentum indicator remains pointing Higher for both flat rolled and plate.

Here is how we see prices this week:

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.