Steel Prices
SMU price ranges: HRC and plate steady as tandem products edge higher
Written by Brett Linton
March 18, 2025
Steel prices were stable to higher this week for the second consecutive week across the sheet and plate products tracked by SMU. Three of our price indices increased from the previous week, while two held firm.
Market sources continue to report steady buying activity and decent demand, though the tariff-induced buying frenzy appears to have slowed.
Hot-rolled coil prices held steady this week at a one-year high. Our plate index was also unchanged and remains at a 10-month high.
Meanwhile, cold-rolled coil and coated prices increased by $10-40 per short ton (st) from last week, climbing to levels last seen in April 2024.
SMU’s price momentum indicator remains at higher for all sheet and plate products, indicating we expect prices to increase in the short term.
Refer to Table 1 for the latest SMU steel price indices and how prices have trended in recent weeks.
Hot-rolled coil
The SMU price range is $900-1,000/st, averaging $950/st FOB mill, east of the Rockies. Our entire range is unchanged week over week (w/w). Our price momentum indicator for hot-rolled steel remains at higher, meaning we expect prices to increase over the next 30 days.
Hot rolled lead times range from 4-8 weeks, averaging 5.9 weeks as of our March 5 market survey. We will publish updated lead times on Thursday.
Cold-rolled coil
The SMU price range is $1,050–1,200/st, averaging $1,125/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 w/w. Our overall average is up $10/st w/w. Our price momentum indicator for cold-rolled steel remains at higher, meaning we expect prices to increase over the next 30 days.
Cold rolled lead times range from 6-10 weeks, averaging 7.7 weeks through our latest survey.
Galvanized coil
The SMU price range is $1,080–1,200/st, averaging $1,140/st FOB mill, east of the Rockies. The lower end of our range is up $30/st w/w, while the top end is up $50/st w/w. Our overall average is up $40/st w/w. Our price momentum indicator for galvanized steel remains at higher, meaning we expect prices to increase over the next 30 days.
Galvanized .060” G90 benchmark: SMU price range is $1,177–1,297/st, averaging $1,237/st FOB mill, east of the Rockies.
Galvanized lead times range from 6-10 weeks, averaging 7.9 weeks through our latest survey.
Galvalume coil
The SMU price range is $1,100–1,200/st, averaging $1,150/st FOB mill, east of the Rockies. The lower end of our range is up $30/st w/w, while the top end is up $50/st w/w. Our overall average is up $40/st w/w. Our price momentum indicator for Galvalume steel remains at higher, meaning we expect prices to increase over the next 30 days.
Galvalume .0142” AZ50, grade 80 benchmark: SMU price range is $1,394–1,494/st, averaging $1,444/st FOB mill, east of the Rockies.
Galvalume lead times range from 6-10 weeks, averaging 8.0 weeks through our latest survey.
Plate
The SMU price range is $1,120–1,260/st, averaging $1,190/st FOB mill. Our entire range is unchanged w/w. Our price momentum indicator for plate remains at higher, meaning we expect prices to increase over the next 30 days.
Plate lead times range from 3-8 weeks, averaging 5.5 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
Read more from Brett LintonLatest in Steel Prices
Nucor carries $875/ton HR list price into week seven
Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Oct. 6
Gap between US HR and landed import prices starts to narrow
The price gap between stateside hot band and landed offshore product narrowed this week. Still, with the 50% Section 232 tariff, most imports remain much more expensive than domestic material.
SMU Price Ranges: A newsy week sees modest price gains despite a quiet spot market
Market participants predicted that prices should be at or near a bottom. But while most seemed to agree on that point, many also said they saw little upside given a quiet spot market and ongoing concerns about demand.
Nucor increases plate prices by $60/ton
Nucor aims to increase prices for steel plate by $60 per short ton with the opening of its November order book.
Nucor’s $875/ton HR spot price spills into week six
Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Sept. 29.