SMU Price Ranges: Steel sheet notches another week of modest gains

By the numbers

SMU’s HR price stands at $825 per short ton (st) on average, up $5/st from last week – when prices rose $15/st from the week prior. Our CR price stands at $1,010/st on average, up $5/st from last week – when prices rose by $10/st from the week prior.

On the coated front, base prices for galvanized product increased to $940/st – up $10/st from last week. Some market participants said the gains resulted less from price hikes than from efforts by US mills over the last week or so to end discounts in the mid-$800s/st. Galvalume prices, meanwhile, ticked lower to $965/st on average, down $10/st from last week.

Plate rose to $1,000/st on average, up $10/st from last week. In plate, as in sheet, market participants generally agreed that higher prices stemmed less from price increases than from mill efforts to curb discounting.

SMU’s sheet momentum indicators continue to point upward on expectations prices will continue to notch modest gains and amid optimism for better times in the new year. We have adjusted our plate momentum indicator to higher for similar reasons.

Market commentary

Broadly speaking, several market participants said they had seen activity improve over the last week, which some interpreted as buyers ordering ahead of a potential second round of price hikes.

Several sources also noted that lead times for most products at most mills were into December – and out as far as January in some instances. Meanwhile, imports remain limited, which means buyers could face higher prices should they decide to restock.

And market participants also said they were optimistic about demand, especially in 2026. And some noted they had already seen signs of improvement. Others said demand remained a concern. They characterized activity as stable or declining on continued market uncertainty over a variety of factors, including tariffs.

Refer to Table 1 (click to enlarge) for our latest price indices and trends.

Hot-rolled coil: $800–850/st, averaging $825/st

The lower end of our range is up $20/st w/w, while the top end is down $10/st. Our overall average is up $5/st ).

Hot-rolled lead times range from 3–6 weeks, averaging 4.9 weeks as of our Oct. 29 market survey.

Cold-rolled coil: $980–1,040/st, averaging $1,010/st

The lower end of our range is down $10/st w/w, while the top end is up $20/st. Our overall average is up $5/st w/w.

Cold-rolled lead times range from 5–8 weeks, averaging 6.4 weeks through our latest survey.

Galvanized coil: $880–1,000/st, averaging $940/st

The lower end of our range is up $20/st w/w, while the top end is unchanged. Our overall average is up $10/st w/w.

Galvanized .060” G90 benchmark: SMU price range is $958–1,078/st, averaging $1,018/st FOB mill, east of the Rockies.

Galvanized lead times range from 5–8 weeks, averaging 6.3 weeks through our latest survey.

Galvalume coil: $930–1,000/st, averaging $965/st

The lower end of our range is up $10/st w/w, while the top end is down $30/st. Our overall average is down $10/st w/w.

Galvalume .0142” AZ50, grade 80 benchmark: SMU price range is $1,284–1,354/st, averaging $1,319/st FOB mill, east of the Rockies.

Galvalume lead times range from 5–8 weeks, averaging 6.6 weeks through our latest survey.

Plate: $960–1,040/st, averaging $1,000/st

The lower end of our range is up $20/st w/w, while the top end is unchanged. Our overall average is up $10/st w/w.

Plate lead times range from 4–7 weeks, averaging 5.3 weeks through our latest survey.

SMU note: The graphic above shows a history of our hot rolled, cold rolled, galvanized, Galvalume, and plate prices. This data is also available on our website with our interactive pricing tool. If you need help navigating the site or logging in, contact us at info@steelmarketupdate.com.