Steel Prices

SMU price ranges: Mixed market as buyers await trade clarity
Written by Brett Linton
March 25, 2025
Steel prices moved in differing directions this week but remained largely stable as cautious buyers await clarity on pending steel tariffs and trade cases.
Of the five sheet and plate indices tracked by SMU, two declined this week, two were unchanged, and one increased.
While demand remains steady, the recent tariff-driven buying surge has slowed, with buyers taking a “wait-and-see” stance ahead of next week’s trade announcements.
Following last week’s one-year high, hot-rolled coil prices slipped $5 per short ton (st) this week. Our Galvalume index also edged lower by $10/st. Meanwhile, cold-rolled coil prices marched to the beat of a different drum, rising $25/st this week. Our galvanized and plate prices were unchanged, both holding at multi-month highs.
SMU has revised its price momentum indicator for hot-rolled sheet from higher to neutral, signaling no true price direction over the next 30 days. Our momentum indicator for cold-rolled, coated, and plate products remains higher, indicating we expect these 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 $890-1,000/st, averaging $945/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 hot-rolled steel has been adjusted to neutral, meaning we see no clear direction for prices over the next 30 days.
Hot rolled lead times range from 4-8 weeks, averaging 5.6 weeks as of our March 19 market survey.
Cold-rolled 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 $50/st w/w, while the top end is unchanged w/w. Our overall average is up $25/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 6-9 weeks, averaging 7.3 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. Our entire range is unchanged 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 7.5 weeks through our latest survey.
Galvalume 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 down $20/st w/w, while the top end is unchanged w/w. Our overall average is down $10/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 $1,374–$1,494/st, averaging $1,434/st FOB mill, east of the Rockies.
Galvalume lead times range from 7-10 weeks, averaging 8.0 weeks through our latest survey.
Plate
The SMU price range is $1,100–1,280/st, averaging $1,190/st FOB mill. The lower end of our range is down $20/st w/w, while the top end is up $20/st w/w. Our overall average 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 4-8 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
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