Steel Products Prices North America
Flat Rolled Pricing Cycle Flattens Out During August
Written by John Packard
September 4, 2013
As we entered the month of August we found flat rolled steel prices trending higher. Prices began rising 10 weeks earlier (late May) after U.S. Steel announced the first of three rounds of price increases. On May 21st the Steel Market Update (SMU) hot rolled coil average price was $565 per ton ($28.25/cwt) and by the end of July our average had increased to $647.50 per ton ($32.375/cwt).
The month of August saw flat rolled prices as “flat” from the beginning to the end of the month. The good news for the domestic steel mills was that pricing did not crumple during the month. Our hot rolled average went from $645 up to $650 and then ended the month at the lowest level seen since July 23rd when we posted $642.50 per ton.
Other products also saw only modest movement during the month. The following table provides a snapshot look at August price movements by product:
Hot rolled and cold rolled prices are base pricing without extras. Galvanized is a .060” G90 benchmark with $3.00/cwt in extras added to the base. Galvalume is a .0142” AZ50, Grade 80 benchmark with $14.55 in extras added to the base. All prices referenced are for new order placement with existing mill lead times, FOB Mill, east of the Rocky Mountains.
John Packard
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