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    Analysis

    SMU Price Ranges: Sheet prices tick (mostly) upward for yet another week

    Written by Brett Linton & Michael Cowden


    Flat-rolled steel prices inched higher again this week, continuing a trend that has characterized the market for most of this year.

    SMU’s hot-rolled (HR) coil price now stands at $1,205 per short ton (st), up $5/st from last week. Galvanized and Galvalume base prices clocked in at $1,440/st, up $10/st from a week ago.

    Brett Linton

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    Michael Cowden

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    SMU Survey: Mill negotiation rates rise on sheet, fall for plate

    Sheet buyers found mills slightly more negotiable on price this week, while plate buyers thought mills were less flexible on spot price tags, according to our latest survey data. Every two weeks, SMU surveys service center and manufacturer buyers to see whether mills will negotiate on new spot sheet and plate orders. In this week’s survey, 14% of respondents said mills were willing to talk price to secure an order, up three percentage points from two weeks earlier (Figure 1). This is the highest reading since July 8, when the rate stood at 18%.

    CRU: HR coil futures re-price 2027 forward curve

    CME Group’s hot-rolled coil futures have jumped higher as the loss of a reheating line at a large Southern mill have renewed domestic production issues. At market close on Oct. 12, the Q4'26 futures are now pricing in $1,295 per short ton (st) for HR coil, a month-over-month (m/m) increase of $63/st. For 2027, the forward curve is up $80 /st vs. September, at $1,207/st. For November 2026 through March 2027, prices are at an average just above $1,300/st.

    AZZ says tight steel availability weighs on Precoat Metals

    AZZ Inc. said galvanized flat-rolled steel availability remains a constraint for its Precoat Metals business, complicating customer sourcing and logistics. Customers are having difficulty securing substrate within required timeframes, and costs remain elevated, President and CEO Tom Ferguson said on an earnings conference call on Wednesday. He said AZZ is helping customers locate domestic and imported material and manage logistics. The situation has “definitely” affected the business, he added. “It’s tight. We see it every day, particularly galvanized sheet metal.”