Prices
SMU Price Ranges & Indices: “Simple Economics” Lead to High Prices
Written by Brett Linton
April 13, 2021
Commented one steel buyer: “No spot supply + strong demand + record-low service center inventories = higher prices. It’s simple economics.” True to that equation, flat rolled steel prices continued their weekly ascent, rising by another $30-35 per ton, according to Steel Market Update’s latest check of the market. The benchmark price for hot rolled has reached a new record of $1,370 per ton, $300 per ton more than the previous high reported by SMU in 2008. The trend is less clear for plate products, leaving the SMU price unchanged from last week. SMU’s Price Momentum Indicators continue to point toward higher steel prices over the next 30 days. Predicted another industry exec: “There is ZERO CHANCE we don’t see $1,400 per ton.”
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $1,340-$1,400 per net ton ($67.00-$70.00/cwt) with an average of $1,370 per ton ($68.50/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 increased $40. Our overall average is up $30 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: 7-12 weeks
Cold Rolled Coil: SMU price range is $1,520-$1,600 per net ton ($76.00-$80.00/cwt) with an average of $1,560 per ton ($78.00/cwt) FOB mill, east of the Rockies. The lower end of our range increased $20 per ton compared to last week, while the upper end increased $40. 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: 8-14 weeks
Galvanized Coil: SMU price range is $1,520-$1,600 per net ton ($76.00-$80.00/cwt) with an average of $1,560 per ton ($78.00/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 $1,589-$1,669 per ton with an average of $1,629 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 8-15 weeks
Galvalume Coil: SMU price range is $1,540-$1,600 per net ton ($77.00-$80.00/cwt) with an average of $1,570 per ton ($78.50/cwt) FOB mill, east of the Rockies. The lower end of our range increased $30 per ton compared to last week, while the upper end increased $40. Our overall average is up $35 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 $1,831-$1,891 per ton with an average of $1,861 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 10-15 weeks
Plate: SMU price range is $1,140-$1,200 per net ton ($57.00-$60.00/cwt) with an average of $1,170 per ton ($58.50/cwt) FOB mill. Both the lower and upper ends of our range remained unchanged compared to one week ago. Our overall average is unchanged from one week ago. Our price momentum on plate steel is Higher, meaning prices are expected to rise in the next 30 days.
Plate Lead Times: 6-10 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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