SMU Data and Models
SMU price ranges: Plate flat as sheet inches higher
Written by Brett Linton
September 17, 2024
SMU’s plate price index was unchanged this week, while our sheet indices crept higher.
Hot-rolled steel prices increased by $5 per short ton (st) to an average of $690/st this week, following two weeks of marginal declines. HR prices are back in line with levels of a month ago.
Average cold-rolled steel prices rose $10/st week over week (w/w) to the highest level since early July at $950/st.
Our coated product indices hit 10-week highs this week. Our base galvanized index, at $920/st, showed a $15/st jump both w/w and from a month earlier. Galvalume base prices ticked up by $5/st w/w to $930/st, also $5/st higher than levels a month ago.
Our plate index was unchanged this week at $950/st. Plate prices have fallen $30/st over the last month and have overall trended downward over the last 10 months.
SMU’s sheet price momentum indicator remains at neutral following our Sept. 10 adjustment. Our plate price momentum indicator remains at lower.
Hot-rolled coil
The SMU price range this week is $660-720/st, averaging $690/st FOB mill, east of the Rockies. The lower end of our range is up $10/st w/w, while the top end is unchanged. Our overall average is up $5/st. Our price momentum indicator for hot rolled steel remains at neutral, meaning we see no clear direction for prices over the next 30 days.
Hot rolled lead times range from 3-7 weeks, averaging 4.9 weeks as of our Sept. 11 market survey.
Cold-rolled coil
The SMU price range is $900–1,000/st, averaging $950/st FOB mill, east of the Rockies. The lower end of our range is unchanged w/w, while the top end is up $20/st. Our overall average is up $10/st. Our price momentum indicator for cold-rolled steel remains at neutral, meaning we see no clear direction for prices over the next 30 days.
Cold rolled lead times range from 5-8 weeks, averaging 6.7 weeks through our latest survey.
Galvanized coil
The SMU price range is $860–980/st, averaging $920/st FOB mill, east of the Rockies. The lower end of our range is $10/st higher w/w, while the top end is up $20/st. Our overall average is up $15/st. Our price momentum indicator for galvanized sheet remains at neutral, meaning we see no clear direction for prices over the next 30 days.
Galvanized .060” G90 benchmark: SMU price range is $957–1,077/st, averaging $1,017/st FOB mill, east of the Rockies.
Galvanized lead times range from 6-8 weeks, averaging 7.2 weeks through our latest survey.
Galvalume coil
The SMU price range is $900–960/st, averaging $930/st FOB mill, east of the Rockies. The lower end of our range is up $20/st w/w, while the top end is down $10/st. Our overall average is up $5/st. Our price momentum indicator for Galvalume sheet remains at neutral, meaning we see no clear direction for prices over the next 30 days.
Galvalume .0142” AZ50, grade 80 benchmark: SMU price range is $1,194–1,254/st, averaging $1,224/st FOB mill, east of the Rockies.
Galvalume lead times range from 6-9 weeks, averaging 7.3 weeks through our latest survey.
Plate
The SMU price range is $900–1,000/st, averaging $950/st FOB mill. Our range is unchanged from last week. Our price momentum indicator for plate remains at lower, meaning we expect prices to decline over the next 30 days.
Plate lead times range from 2-6 weeks, averaging 3.9 weeks through our latest survey.
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
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