Steel Prices

SMU price ranges: Steady as she goes

December 10, 2024

SMU price indices saw little change again this week, with sheet and plate products fluctuating by $5-10 per short ton (st) compared to last week. Prices have remained relatively stable in recent weeks, though they have generally trended downward since October.

Sheet prices are holding at or near multi-month lows, similar to levels seen in late July and early August. Plate prices continue to drift lower from their mid-2022 peak.

Our price momentum indicators remain at neutral for both sheet and plate products.

Refer to Table 1 for the latest SMU steel price indices and how prices have moved in recent weeks.

Hot-rolled coil

The SMU price range is $650-700/st, averaging $675/st FOB mill, east of the Rockies. The lower end of our range is up $10/st w/w, while the top end is down $20/st w/w. Our overall average is down $5/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 4.9 weeks as of our December 4 market survey.

Cold-rolled coil

The SMU price range is $860–920/st, averaging $890/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 w/w. Our overall average is up $5/st w/w. 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 6.9 weeks through our latest survey.

Galvanized coil

The SMU price range is $850–900/st, averaging $875/st FOB mill, east of the Rockies. The lower end of our range is up $20/st w/w, while the top end is unchanged w/w. Our overall average is up $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 $947–997/st, averaging $972/st FOB mill, east of the Rockies.

Galvanized lead times range from 5-8 weeks, averaging 6.8 weeks through our latest survey.

Galvalume coil

The SMU price range is $850–900/st, averaging $875/st FOB mill, east of the Rockies. The lower end of our range is down $10/st w/w, while the top end is unchanged w/w. Our overall average is down $5/st w/w. 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 $1,144–1,194/st, averaging $1,169/st FOB mill, east of the Rockies.

Galvalume lead times range from 6-8 weeks, averaging 7.3 weeks through our latest survey.

Plate

The SMU price range is $840–890/st, averaging $865/st FOB mill. The lower end of our range is up $30/st w/w, while the top end is down $20/st w/w. Our overall average is up $5/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 4.1 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

Brett Linton is a senior analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.