Steel Products
SMU Price Ranges & Indices: Flat Rolled Up Another $20-40
Written by Brett Linton
November 24, 2020
Flat rolled steel prices just keep ratcheting up as supplies remain extremely tight, with lead times continuing to extend and sources warning of impending shortages of some products (see related articles in this issue). Steel Market Update’s check of the market this week moves the benchmark price for hot rolled up to $770 per ton, and that figure may be conservative. Sources tell SMU that Nucor is out in the market with prices of $840 per ton for hot rolled and $1,000 for cold rolled and coated, though we have not yet confirmed purchases at those numbers. SMU’s Price Momentum Indicators continue to point toward higher prices in the next 30-60 days.
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $750-$790 per net ton ($37.50-$39.50/cwt) with an average of $770 per ton ($38.50/cwt) FOB mill, east of the Rockies. Both the lower and upper ends of our range increased $40 per ton compared to one week ago. Our overall average is up $40 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: 5-9 weeks
Cold Rolled Coil: SMU price range is $920-$960 per net ton ($46.00-$48.00/cwt) with an average of $940 per ton ($47.00/cwt) FOB mill, east of the Rockies. The lower end of our range increased $40 per ton compared to last week, while the upper end increased $20. Our overall average is up $30 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: 6-12 weeks
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Galvanized Coil: SMU price range is $920-$960 per net ton ($46.00-$48.00/cwt) with an average of $940 per ton ($47.00/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 increased $40. Our overall average is up $30 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 $989-$1,029 per ton with an average of $1,009 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 7-12 weeks
Galvalume Coil: SMU price range is $960-$1,000 per net ton ($48.00-$50.00/cwt) with an average of $980 per ton ($49.00/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 $1,251-$1,291 per ton with an average of $1,271 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 7-12 weeks
Plate: SMU price range is $720-$740 per net ton ($36.00-$37.00/cwt) with an average of $730 per ton ($36.50/cwt) FOB delivered to the customer’s facility. The lower end of our range increased $20 per ton compared to one week ago, while the upper end remained unchanged. Our overall average is up $10 from last week. Our price momentum on plate steel is Higher, meaning prices are expected to rise in the next 30 days.
Plate Lead Times: 4-8 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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