Steel Products Prices North America
SMU Price Ranges & Indices: One Sideways & 3 Higher
Written by John Packard
December 29, 2013
Flat rolled steel prices remained range bound over the past few days due to the Holidays and most buyers being out of the office. At the same time, U.S. Steel, NLMK USA, Nucor and ArcelorMittal USA have all come out with new base price guidance for new orders. The expectation from most buyers is for prices to move sideways to slightly higher over the next 30 to 60 days. For that reason our SMU Price Momentum Indicator continues to point toward higher pricing.
Here is how we see prices this week:
Hot Rolled Coil: SMU Range is $650 per ton to $690 per ton ($32.50/cwt-$34.50/cwt) with an average of $670 per ton ($33.50/cwt) FOB mill, east of the Rockies. Our benchmark hot rolled range did not change when compared to our last measurement on Tuesday, December 17th. Our expectation is for hot rolled pricing to move sideways to slightly higher over the next 30 days.
Hot Rolled Lead Times: 3-8 weeks.
Cold Rolled Coil: SMU Range is $760 per ton to $800 per ton ($38.00/cwt-$40.00/cwt) with an average of $780 per ton ($39.00/cwt) FOB mill, east of the Rockies. The lower end of our range moved higher by $10 per ton while the upper end of our range remained stable compared to our last report on Tuesday, December 17th. Our average is now $5 per ton higher than one week ago. SMU anticipates cold rolled prices will move sideways to slightly higher over the next 30 days.
Cold Rolled Lead Times: 5-8 weeks.
Galvanized Coil: SMU Base Price Range is $38.00/cwt to $40.00/cwt ($760 per ton to $800 per ton base) with an average of $39.00/cwt ($780 per ton) plus applicable extras, FOB mill, east of the Rockies. The lower end of our range moved higher by $10 per ton while the upper end of our range remained intact from last week. SMU anticipates galvanized base prices will trend sideways to slightly higher over the next 30 days.
Galvanized Benchmark .060” G90 range is $820 per ton to $860 per ton with an average of $840 per ton, FOB mill, east of the Rockies. Extra being used for .060” G90 is $3.00/cwt ($60 per ton).
Galvanized Lead Times: 4-10 weeks.
Galvalume Coil: SMU Base Price Range is $38.50/cwt to $40.50/cwt ($770 per ton to $810 per ton) with an average of $39.50/cwt ($790 per ton) plus applicable extras, FOB mill, east of the Rockies. The lower end of our range remained stable while the upper end of our range rose by $10 per ton compared to our report of last Tuesday, December 17th. The expectation is for Galvalume prices to move sideways to slightly higher over the next 30 days.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU range (including extras) is $1061 to $1101 per ton ($53.05/cwt-$55.05/cwt) FOB mill, east of the Rockies.
Galvalume Lead Times: 5-9 weeks.
{amchart id=”110″ Weekly Pricing Article Graph- Use for NEWSLETTER}
John Packard
Read more from John PackardLatest in Steel Products Prices North America
SMU Price Ranges: Sheet floor holds as market debates upside
Our average HR coil price increased $5/short ton from last week, marking a second consecutive week of modest gains. Market participants generally attributed the increase to...
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).
Domestic plate prices could heat up despite so-so demand, market sources say
Some sources also speculated that plate could see further price increases thanks to modest but steady demand, lower imports, mill maintenance outages, and end markets less immediately affected by tariff-related disruptions.