Steel Prices
SMU price ranges: Sheet prices rebound, plate flat
Written by Brett Linton & David Schollaert
March 26, 2024
Sheet prices rose across the board this week while plate prices remained flat, according to our latest market check.
SMU’s average hot-rolled (HR) coil price increased to $810 per short ton (st) this week, up $15/st from last’s week’s five-month low.
Cold-rolled (CR) and galvanized products also increased week over week (w/w). Galvalume, meanwhile, saw a $10/st bump w/w, its second consecutive weekly increase.
SMU’s CR price now averages $1,115/st (+$15/st w/w). Our galvanized base price averages $1,120/st (+$30/st w/w). And our Galvalume price averages $1,150/st (+$10/st w/w).
SMU’s plate price now stands at $1,260/st on average, unchanged from last week. The market remains quiet since Nucor publicly lowered prices last month. Buyers are waiting to see where Nucor will price plate at the end of this week.
SMU’s sheet price momentum indicators remain at neutral as we’re unsure how prices will move over the next 30 days. We have moved our plate price momentum indicator from lower to neutral.
Hot-rolled coil
The SMU price range is $780–840/st, with an average of $810/st FOB mill, east of the Rockies. The bottom end of our range was up $20/st vs. one week ago, and the top end of our range was up $10/st w/w. Our overall average is up $15/st from last week. Our price momentum indicator for HR remains at neutral, meaning SMU is unsure where prices will move over the next 30 days.
Hot rolled lead times: 4.93 weeks on average
Cold-rolled coil
The SMU price range is $1,050–1,180/st, with an average of $1,115/st FOB mill, east of the Rockies. The lower end of our range was $30/st higher w/w, while the top end of our range was flat vs. the prior week. Our overall average is up $15/st from last week. Our price momentum indicator for CR remains at neutral, meaning SMU is unsure where prices will move over the next 30 days.
Cold rolled lead times: 7.58 weeks on average
Galvanized coil
The SMU price range is $1,070–1,170/st, with an average of $1,120/st FOB mill, east of the Rockies. The lower end of our range was $40/st higher vs. last week, while the top of our range was up $20/st vs. the prior week. Our overall average is $30/st higher w/w. Our price momentum indicator for galvanized remains at neutral, meaning SMU is unsure where prices will move over the next 30 days.
Galvanized .060” G90 benchmark: SMU price range is $1,167–1,267/st with an average of $1,217/st FOB mill, east of the Rockies.
Galvanized lead times: 7.55 weeks on average
Galvalume coil
The SMU price range is $1,120–1,180/st, with an average of $1,150/st FOB mill, east of the Rockies. The lower end of our range was $20/st higher w/w, while the top end of our range was up flat from the prior week. Our overall average was up $10/st when compared to the previous week. Our price momentum indicator for Galvalume remains at neutral, meaning SMU is unsure where prices will move over the next 30 days.
Galvalume .0142” AZ50, grade 80 benchmark: SMU price range is $1,414–1,474/st with an average of $1,444/st FOB mill, east of the Rockies.
Galvalume lead times: 7.67 weeks on average
Plate
The SMU price range is $1,220–1,300/st, with an average of $1,260/st FOB mill. Both the the lower end and the top end of our range were flat w/w. Our overall average is unchanged vs. a week ago. Our price momentum indicator for plate remains at neutral, meaning SMU is unsure where prices will move over the next 30 days.
Plate lead times: 5.41 weeks on average
SMU note: Above is a graphic showing our hot rolled, cold rolled, galvanized, Galvalume, and plate price history. This data is also 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 Linton
David Schollaert
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