SMU Data and Models

SMU price ranges: Market stable amid post-Thanksgiving glut
Written by Brett Linton
December 3, 2024
Our weekly price updates may sound a bit repetitive lately. SMU’s steel price indices have bobbed within a narrow range in the last few weeks, with this week no different.
SMU price indices saw minor fluctuations this week for hot-rolled, galvanized, and plate products, moving $10 per short ton (st) from the prior week. Our cold rolled and Galvalume indices are unchanged from last week. Sheet prices remain at or near multi-month lows, similar to levels seen around late July/early August. Plate prices continue to edge lower from their mid-2022 peak.
This is not atypical for this slower time of the year. The steel market usually drifts along throughout December, only disrupted by unplanned mill outages or unexpected market events.
There is hope that prices will tick higher next year – supported by tariffs, a recovery in demand, and trade cases on coated products – but that has yet to materialize.
Our price momentum indicators remain at neutral for both sheet and plate products.
See Table 1 below for the latest SMU steel price indices and how prices have moved in recent weeks.

Hot-rolled coil
The SMU price range is $640-720/st, averaging $680/st FOB mill, east of the Rockies. The lower end of our range is up $20/st w/w, and the top end is unchanged. Our overall average is up $10/st w/w. 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 3-6 weeks, averaging 4.6 weeks as of our Nov. 20 market survey. We will publish updated mill lead times later this week.
Cold-rolled coil
The SMU price range is $850–920/st, averaging $885/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 $20/st w/w. Our overall average is unchanged. 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 5-9 weeks, averaging 6.7 weeks through our latest survey.
Galvanized coil
The SMU price range is $830–900/st, averaging $865/st FOB mill, east of the Rockies. The lower end of our range is unchanged from last week, while the top end is down $20/st w/w. Our overall average is down $10/st w/w. Our price momentum indicator for galvanized steel remains at neutral, meaning we see no clear direction for prices over the next 30 days.
Galvanized .060” G90 benchmark: SMU price range is $927–997/st, averaging $962/st FOB mill, east of the Rockies.
Galvanized lead times range from 5-8 weeks, averaging 6.6 weeks through our latest survey.
Galvalume coil
The SMU price range is unchanged from last week at $860–900/st, averaging $880/st FOB mill, east of the Rockies. Our price momentum indicator for Galvalume steel 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 $1,154–1,194/st, averaging $1,174/st FOB mill, east of the Rockies.
Galvalume lead times range from 6-8 weeks, averaging 7.0 weeks through our latest survey.
Plate
The SMU price range is $810–910/st, averaging $860/st FOB mill. The lower end of our range is down $30/st w/w, while the top end is up $10/st w/w. Our overall average is down $10/st w/w. Our price momentum indicator for plate remains at neutral, meaning we see no clear direction for prices over the next 30 days.
Plate lead times range from 2-6 weeks, averaging 3.8 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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