Steel Products Prices North America
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/4fc7e0d2f4ac2a26ee94c1cb564711e1.jpg)
SMU Price Ranges: Sheet Decline Moderates, More Erosion Likely
Written by David Schollaert
June 13, 2023
Sheet prices fell at a more modest pace this week after a sharp decline last week, as business seemed somewhat curbed.
After Memorial Day prices fell, leading to the sharpest price drop since June 21, 2022. Now, the slide seems to have temporarily cooled, though sources indicated it was almost exclusively due to a lack of activity.
SMU’s hot-rolled coil price now stands at $930 per ton ($46.50 per cwt), down $5 per ton from a week ago. While chatter existed of even lower prices, there was little in the way of confirmation, as unsolicited offers seemed to gain traction.
Value-added products also posted widespread declines, though again at much smaller rates than the double-digit cuts the week prior. Cold-rolled was down $5 per ton, as was galvanized and Galvalume. We’ve seen two mills lower coating extras as zinc prices erode, and sources anticipate other mills will follow.
Though sheet prices didn’t follow last week’s sharp fall, sources agree that further tag erosion is likely as domestic product remains at a premium to offshore sheet. Also, discounting should intensify as new capacity continues to ramp up.
Plate prices were only down marginally, at $1,505 per ton, but talk surrounding aggressive discounting from published prices continued.
Our sheet price momentum indicator remains at lower. Our plate price momentum indicator continues to point sideways.
Hot-Rolled Coil: The SMU price range is $890–970 per net ton ($44.50–48.50 per cwt), with an average of $930 per ton ($46.50 per cwt) FOB mill, east of the Rockies. The bottom end of our range was unchanged vs. one week ago, while the top end was down $10 per ton week on week (WoW). Our overall average down $5 per ton WoW. Our price momentum indicator for hot-rolled coil points downward, meaning we expect the market will be down over the next 30 days.
Hot-Rolled Lead Times: 3–7 weeks
Cold-Rolled Coil: The SMU price range is $1,100–1,200 per net ton ($55.00–60.00 per cwt), with an average of $1,150 per ton ($57.50per cwt) FOB mill, east of the Rockies. The lower end of our range was sideways WoW, while the top end was down $10 per ton compared to a week ago. Our overall average is down $5 per ton WoW. Our price momentum indicator on cold-rolled coil points downward, meaning we expect the market will be down over the next 30 days.
Cold-Rolled Lead Times: 5–9 weeks
Galvanized Coil: The SMU price range is $1,040–1,170 per net ton ($52.00–58.50 per cwt), with an average of $1,105 per ton ($55.25 per cwt) FOB mill, east of the Rockies. The lower end of our range was unchanged vs. last week, while the top end of our range was down $10 per ton vs. one week ago. Our overall average is down $5 per ton vs. the prior week. Our price momentum indicator on galvanized steel points downward, meaning we expect the market will be down over the next 30 days.
Galvanized .060” G90 Benchmark: SMU price range is $1,137–1,267 per ton with an average of $1,202 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 3–10 weeks
Galvalume Coil: The SMU price range is $1,136–1,185 per net ton ($56.75-59.25 per cwt), with an average of $1,160 per ton ($58.00 per cwt) FOB mill, east of the Rockies. Both the lower end of the range and the top end of the range were unchanged vs. last week. Our overall average sideways as a result when compared to one week ago. Our price momentum indicator on Galvalume steel now points downward, meaning we expect the market will be down over the next 30 days.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $1,429–1,479 per ton with an average of $1,454 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 6–8 weeks
Plate: The SMU price range is $1,450–1,560 per net ton ($72.50–78.00 per cwt), with an average of $1,505 per ton ($75.25 per cwt) FOB mill. The lower end of our range was unchanged compared to the prior week, while the top end of our range was down $10 per ton WoW. Our overall average was down $5 per ton vs. the prior week. Our price momentum indicator on steel plate moved to neutral, meaning we are unsure of what direction prices will go over the next 30 days.
Plate Lead Times: 4–9 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.
By David Schollaert, david@steelmarketupdate.com
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/02/SMU_DS_headshot.png-150x150.jpg)
David Schollaert
Read more from David SchollaertLatest in Steel Products Prices North America
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
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 […]
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Nucor.png)
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.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Nucor.png)
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).
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Cliffs_logo2.2.png)
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.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
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 […]