SMU Price Ranges & Indices: Cold Rolled and Coated Stronger than Hot Rolled

As expected, steel prices are volatile and unpredictable as the market approaches year-end. Hot rolled continued its slow, gradual descent averaging $1,875 per ton this week, down another $10, based on Steel Market Update’s survey data gathered on Monday and Tuesday. Cold rolled and coated products, on the other hand, saw small increases to around $2,110-2,120 per ton. Plate gave back the $50 it gained last week to an average around $1,800 per ton, despite the price increases announced by the mills in late October. SMU’s Price Momentum Indicator for hot rolled is pointing Down, but remains Neutral for other products until the trend becomes clear.

Comments from various sources reflect the unsettled and varied nature of recent steel transactions, which make it difficult to pin down prices. “Many mills are now acknowledging that holes in order books from the auto sector are becoming more prevalent. While mills believe they’ll muddle through the end of the year, they see bigger challenges emerging come January and beyond,” said one respondent.

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.