SMU Price Ranges: Sheet Rises Again, HRC Firms Around $700/ton

Lead times, meanwhile, were expected to remain firm because of maintenance outages and because of large orders placed shortly before or after the price hike announced by Cleveland-Cliffs in late September.

Steel Market Update’s hot-rolled coil price now stands at $695 per ton ($34.75 per cwt), up $25 per ton from last week and marking the first time HRC has seen consecutive price gains since early July.

Cold-rolled and coated base prices also rose (up $10 per ton) as did Galvalume base prices (up $15 per ton). Plate prices were little changed from last week (up $5 per ton).

Our sheet price momentum indicators remain pointed upward. Our plate price momentum indicator remains at neutral.

Hot-Rolled Coil

The SMU price range is $660–730 per net ton ($33.00–36.50 per cwt), with an average of $695 per ton ($34.75 per cwt) FOB mill, east of the Rockies. The bottom end of our range increased $20 per ton vs. one week ago, while the top end of the range edged up $30 per ton compared to the prior week. Our overall average is up $25 per ton week over week (WoW). Our price momentum indicator for HRC is now pointing higher, a shift from lower, meaning SMU expects prices will increase over the next 30 days.

Hot Rolled Lead Times: 3–7 weeks

Cold-Rolled Coil

The SMU price range is $880–940 per net ton ($44.00–47.00 per cwt), with an average of $910 per ton ($45.50 per cwt) FOB mill, east of the Rockies. The lower end of our range was unchanged WoW, while the top end was $20 per ton higher compared to a week ago. Our overall average is up $10 per ton WoW. Our price momentum indicator for CRC is now pointing higher, a shift from lower, meaning SMU expects prices will increase over the next 30 days.

Cold Rolled Lead Times: 5–8 weeks

Galvanized Coil

The SMU price range is $880–940 per net ton ($44.00–47.00 per cwt), with an average of $910 per ton ($45.50 per cwt) FOB mill, east of the Rockies. The lower end of our range was up $10 per ton vs. last week, while the top end of our range was also up $10 per ton WoW. Thus, our overall average is up $10 per ton vs. the prior week. Our price momentum indicator on galvanized steel is now pointing higher, a shift from lower, meaning SMU expects prices will increase over the next 30 days.

Galvanized .060” G90 Benchmark: SMU price range is $977–1,037 per ton with an average of $1,007 per ton FOB mill, east of the Rockies.

Galvanized Lead Times: 5-8 weeks

Galvalume Coil

The SMU price range is $900–940 per net ton ($45.00–47.00 per cwt), with an average of $920 per ton ($46.00 per cwt) FOB mill, east of the Rockies. The lower end of our range was up $40 per ton vs. last week, while the top end of the range was $10 per ton lower WoW. Our overall average was up $15 per ton compared to one week ago. Our price momentum indicator on Galvalume steel is now pointing higher, a shift from lower, meaning SMU expects prices will increase over the next 30 days.

Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $1,194–1,234 per ton with an average of $1,214 per ton FOB mill, east of the Rockies.

Galvalume Lead Times: 5-10 weeks

Plate

The SMU price range is $1,440–1,500 per net ton ($72.00–75.00 per cwt), with an average of $1,470 per ton ($73.50 per cwt) FOB mill. The lower end of our range was $40 per ton higher WoW, while the top end of our range was down $30 per ton compared to the week prior. Thus, our overall average is up $5 per ton vs. one week ago. Our price momentum indicator on steel plate shifted to neutral meaning there is no clear indication where prices will head over the next 30 days.

Plate Lead Times: 4-7 weeks

SMU Note: Above 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.