Steel Prices

SMU price ranges: Sheet and plate edge lower on tariff uncertainty
Written by Brett Linton
April 8, 2025
Steel prices slipped this week across all five of SMU’s sheet and plate indices, marking a shift from the strong uptrend seen throughout February and March.
We saw signs of the market losing momentum in late March, when a few of our indices declined. This week is the first time all of our indices have moved lower in unison since July 2024.
Buyers have become more cautious in recent weeks, only covering immediate steel needs as they wait for more clarity on potential steel import tariffs and trade cases. Coupled with cloudy demand forecasts and weaker-than-expected scrap prices, most buyers appear to be in wait-and-see mode.
Our hot-rolled coil index eased for the second week in a row, slipping $10 per short ton (st) back to levels seen in late February and early March. Cold-rolled coil posted the largest week-over-week (w/w) drop, falling $25/st from last week’s one-year high. Our galvanized index fell $10/st for the second consecutive week, while Galvalume prices declined $20/st. Plate also edged down $10/st this week after touching a near one-year high last week.
SMU has revised its price momentum indicators for cold-rolled, coated, and plate products from higher to neutral, signaling no clear price direction over the next 30 days. Our momentum indicator for hot-rolled remains at neutral, unchanged since its March 25 adjustment from higher.
Refer to Table 1 (click to enlarge) for the latest SMU steel price indices and how prices have trended in recent weeks.

Hot-rolled coil
The SMU price range is $840-970/st, averaging $905/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 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 4-7 weeks, averaging 5.5 weeks as of our April 2 market survey.
Cold-rolled coil
The SMU price range is $1,080–1,190/st, averaging $1,135/st FOB mill, east of the Rockies. The lower end of our range is down $40/st w/w, while the top end is down $10/st w/w. Our overall average is down $25/st w/w. Our price momentum indicator for cold-rolled steel has been adjusted from higher to neutral, meaning we see no clear direction for prices over the next 30 days.
Cold rolled lead times range from 6-9 weeks, averaging 7.0 weeks through our latest survey.
Galvanized coil
The SMU price range is $1,060–1,180/st, averaging $1,120/st FOB mill, east of the Rockies. The lower end of our range is unchanged w/w, 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 has been adjusted from higher to neutral, meaning we see no clear direction for prices over the next 30 days.
Galvanized .060” G90 benchmark: SMU price range is $1,157–1,277/st, averaging $1,217/st FOB mill, east of the Rockies.
Galvanized lead times range from 6-9 weeks, averaging 7.2 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 $40/st w/w, while the top end is unchanged w/w. Our overall average is down $20/st w/w. Our price momentum indicator for Galvalume steel has been adjusted from higher to neutral, meaning we see no clear direction for prices over the next 30 days.
Galvalume .0142” AZ50, grade 80 benchmark: SMU price range is $1,374–1,494/st, averaging $1,434/st FOB mill, east of the Rockies.
Galvalume lead times range from 6-10 weeks, averaging 7.5 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 $40/st w/w, while the top end is unchanged w/w. Our overall average is down $20/st w/w. Our price momentum indicator for plate has been adjusted from higher to neutral, meaning we see no clear direction for prices over the next 30 days.
Plate lead times range from 4-8 weeks, averaging 5.8 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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