SMU Price Ranges & Indices: Hot Rolled Average Reaches $600

“Mills continue to offer lower spot numbers, trying to generate orders. I don’t see a change in tone, and in fact, believe that some mills are very concerned about 1st quarter orders as we get closer to year end. Demand remains good for us – constant.” Large service center group.

“HR at $600 for any level of spot volume now. Large volume can fetch $570 but I don’t think there are many transactions occurring due to holidays. Plate is slipping and looks more vulnerable heading into New Year; fob mill prices are $760-780 for plate.” Large national service center

“I am getting phone calls about short lead times (less than 3 weeks) for small tons; but I’m not interested.  I also heard mills are producing floor stock in typical spot buy sizes.  My contract tons for end of January release have already been produced in HRB/HRPO.” Manufacturing company.

We are seeing $29.00 from most of our suppliers without volume commitments.  It doesn’t mean that the price is necessarily lower but I believe that it is if we fish with larger tons. (5,000 or more)” Large manufacturing company.

Here is how we see flat rolled prices this week:

Hot Rolled Coil: SMU Range is $580-$620 per ton ($29.00/cwt- $31.00/cwt) with an average of $600 per ton ($30.00/cwt) FOB mill, east of the Rockies. Both the upper and lower ends of our range decreased by $10 per ton compared to last week. Our average is now $10 less than one week ago. SMU price momentum for hot rolled steel is for prices to drift and trend lower over the next 30 days.

Hot Rolled Lead Times: 2-5 weeks.

Cold Rolled Coil: SMU Range is $690-$740 per ton ($34.50/cwt- $37.00/cwt) with an average of $715 per ton ($35.75/cwt) FOB mill, east of the Rockies. The lower end of our range decreased by $30 per ton compared to last week and the upper end declined by $10 per ton. Our average is down $20 compared to one week ago. SMU price momentum on cold rolled steel is for prices to drift and trend lower over the next 30 days.

Cold Rolled Lead Times: 5-9 weeks.

Galvanized Coil: SMU Base Price Range is $34.50/cwt-$37.50/cwt ($690-$750 per ton) with an average of $36.00/cwt ($720 per ton) FOB mill, east of the Rockies. The lower end of our range decreased by $10 per ton compared to last week while the upper end remained the same. Our average is down $5 per ton compared to last week. SMU anticipates galvanized prices will drift and trend lower over the next 30 days.

Galvanized .060” G90 Benchmark: SMU Range is $759-$819 per ton with an average of $789 per ton FOB mill, east of the Rockies.

Galvanized Lead Times: 4-9 weeks.

Galvalume Coil: SMU Base Price Range is $34.50/cwt-$37.50/cwt ($690-$750 per ton) with an average of $36.00/cwt ($720 per ton) FOB mill, east of the Rockies. The lower end of our range decreased by $40 per ton compared to last week while the upper end remained the same. Our average is down $20 per ton compared to one week ago. Our expectation is for Galvalume prices to drift and trend lower over the next 30 days.

Galvalume .0142” AZ50, Grade 80 Benchmark: SMU Range is $981-$1041 per ton with an average of $1011 per ton FOB mill, east of the Rockies.

Galvalume Lead Times: 5-9 weeks.