SMU Data and Models

March SMU Comparison Price Indices: All Lower Except One
Written by John Packard
April 2, 2014
Every month we track a number of the other steel indexes including the two used the most for contract adjustments: CRU and Platts. We had some interesting results as the month of March closed as all of the indices showed declines (compared to the end of the prior month) in hot rolled, cold rolled, galvanized and Galvalume steel pricing. The only exception being Platts which was pretty consistent with their higher priced outlook as the month progressed and especially immediately after the announced price increases during the week of March 17th.
As you can see there is quite a spread between the various indexes on benchmark hot rolled. As the month closed CRU was at $620 (which is where SMU was the week before), SMU closed the month at $630, SteelBenchmarker $646 and Platts at $655 per ton.
Plate prices rose during the month – and all the indexes agreed on that one product…

John Packard
Read more from John PackardLatest in SMU Data and Models

SMU Survey: Sheet lead times ease further, plate hits one-year high
Steel buyers responding to this week’s SMU market survey report a continued softening in sheet lead times. Meanwhile, plate lead times have moderately extended and are at a one-year high.

SMU Survey: Buyers report more price flexibility from mills
Nearly half of the steel buyers responding to this week’s SMU market survey say domestic mills are showing increased willingness to negotiate pricing on new spot orders. This marks a significant shift from the firmer stance mills held in prior weeks.

SMU Survey: Buyers’ Sentiment Indices fall
Current Sentiment Index dropped six points to +42 this week compared to two weeks earlier. It has fallen in every successive survey since reaching a 2025 high of +66 on Feb. 19.

March service center shipments and inventories report
Steel service center shipments and inventories report through March 2024.

Apparent steel supply contracts in February
The amount of finished steel that entered the US market in February receded from January’s peak, according to our analysis of Department of Commerce and American Iron and Steel Institute (AISI) data.