Steel Prices
SMU price ranges: Sheet and plate prices retreat from recent highs
Written by Brett Linton
April 15, 2025
Steel prices slipped again this week, with all five of SMU’s sheet and plate indices trending lower for the second week in a row. The market continues to cool following the February-March rally, with cautious buyers waiting on the sidelines amid ongoing tariff uncertainty, demand concerns, and new capacity coming online.
Hot-rolled coil prices eased for the fourth-consecutive week, down $10 per short ton (st) from last week and $55/st lower than levels seen one month ago.
Tandem products saw slightly steeper declines: our cold rolled and Galvalume indices both fell $15/st week over week (w/w), while galvanized prices declined $20/st. Compared to one month ago, cold-rolled prices are down just $5/st, while coated products are down as much as $40/st.
Plate saw the smallest movement this week, slipping $5/st w/w. This marks the second consecutive weekly decline, following the one-year high seen at the start of April.
SMU’s price momentum indicator remains at neutral for all sheet and plate products, indicating we see no strong directional signals over the next 30 days.
Refer to Table 1 (click to enlarge) for our latest price indices and trends.
Hot-rolled coil
The SMU price range is $840-950/st, averaging $895/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. 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. We will update lead times on Thursday.
Cold-rolled 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 down $20/st w/w, while the top end is down $10/st. Our overall average is down $15/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 6-9 weeks, averaging 7.0 weeks through our latest survey.
Galvanized coil
The SMU price range is $1,030–1,170/st, averaging $1,100/st FOB mill, east of the Rockies. The lower end of our range is down $30/st w/w, while the top end is down $10/st. Our overall average is down $20/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 $1,127–1,267/st, averaging $1,197/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 $1,060–1,190/st, averaging $1,125/st FOB mill, east of the Rockies. The lower end of our range is down $20/st w/w, while the top end is down $10/st. Our overall average is down $15/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 $1,354–1,484/st, averaging $1,419/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 $1,100–1,270/st, averaging $1,185/st FOB mill. The lower end of our range is unchanged w/w, while the top end is down $10/st. Our overall average is down $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 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 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
Gap between US HR prices, imports narrows
SMU’s average price for domestic hot-rolled (HR) coil was $800 per short ton (st) this week, up $5/st week on week (w/w). In offshore markets last week, prices were varied.
Busheling and shredded tags drop, widening HRC vs. prime scrap spread
US scrap prices fell on busheling and shredded in October, while HMS remained flat, market sources told SMU.
Thin demand keeps plate prices hovering at lowest levels since February
Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.
SMU Price Ranges: HR crawls back to $800/ton
SMU’s HR price stands at $800/st on average, up $5/st from last week. The modest gain came as the low end of our range firmed, and despite the high end of our range declining slightly.
SMU successfully completes IOSCO review
SMU has successfully completed an external review of all our prices. The review has concluded that they algin with principles set by the International Organization of Securities Commissions (IOSCO).