Steel Products Prices North America
SMU Price Ranges & Indices: Prices Continue to Ease Down
Written by Brett Linton
November 16, 2021
Steel Market Update’s poll of buyers on Monday and Tuesday showed further small declines for flat rolled steel prices, while plate prices were up a bit. No sign yet of a sharp correction as prices continue to ease downward. The benchmark price for hot rolled is now down to $1,830 per ton, $25 lower than last week and down $125 from the peak in early September. SMU’s Hot Rolled Price Momentum Indicator continues to point Down, as HR prices are likely to see further decreases over the next 30 days. Prices for cold rolled and coated products also dipped by $10-25 per ton this week, but the trend is less certain and SMU’s Momentum Indicators for those products remain at Neutral. Prices are more difficult than usual to track given various end-of-year factors – such as seasonal demand and inventory adjustments. And what happens to prices when the ports manage to work through their bottlenecks and big tonnages of foreign steel finally make it to market? Be on the lookout, as we are, for even more volatility ahead.
Hot Rolled Coil: SMU price range is $1,760-$1,900 per net ton ($88.00-$95.00/cwt) with an average of $1,830 per ton ($91.50/cwt) FOB mill, east of the Rockies. The lower end of our range decreased $15 per ton compared to last week, while the upper end decreased $35. Our overall average is down $25 per ton from one week ago. Our price momentum on hot rolled steel is Lower, meaning we expect prices to decrease over the next 30 days.
Hot Rolled Lead Times: 4-11 weeks
Cold Rolled Coil: SMU price range is $2,000-$2,160 per net ton ($100.00-$108.00/cwt) with an average of $2,080 per ton ($104.00/cwt) FOB mill, east of the Rockies. The lower end of our range remained unchanged compared to one week ago, while the upper end decreased $40 per ton. Our overall average is down $20 per ton from last week. Our price momentum on cold rolled steel will remain Neutral until the market establishes a clear direction.
Cold Rolled Lead Times: 6-15 weeks
Galvanized Coil: SMU price range is $1,970-$2,200 per net ton ($98.50-$110.00/cwt) with an average of $2,085 per ton ($104.25/cwt) FOB mill, east of the Rockies. The lower end of our range remained unchanged compared to last week, while the upper end decreased $50 per ton. Our overall average is down $25 per ton from one week ago. Our price momentum on galvanized steel will remain Neutral until the market establishes a clear direction.
Galvanized .060” G90 Benchmark: SMU price range is $2,048-$2,278 per ton with an average of $2,163 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 7-15 weeks
Galvalume Coil: SMU price range is $2,030-$2,160 per net ton ($101.50-$108.00/cwt) with an average of $2,095 per ton ($104.75/cwt) FOB mill, east of the Rockies. The lower end of our range remained unchanged compared to one week ago, while the upper end decreased $20 per ton. Our overall average is down $10 per ton from last week. Our price momentum on Galvalume steel will remain Neutral until the market establishes a clear direction.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $2,321-$2,451 per ton with an average of $2,386 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 6-12 weeks
Plate: SMU price range is $1,775-$1,835 per net ton ($88.75-$91.75/cwt) with an average of $1,805 per ton ($90.25/cwt) FOB mill. The lower end of our range increased $60 per ton compared to last week, while the upper end remained unchanged. Our overall average is up $30 per ton from one week ago. Our price momentum on plate steel will remain Neutral until the market establishes a clear direction.
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
Read more from Brett LintonLatest in Steel Products Prices North America
CRU: Longs pricing trends diverge in North, South America
Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]
Nucor cuts plate prices by $125/ton, cites ongoing competition
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.
Nucor cuts HR price for fourth straight week
Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).
Cliffs sets $720/ton HR price with opening of August books
Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]