Steel Products Prices North America

SMU Price Ranges & Indices: Another Bump in the Road to the Bottom

March 10, 2015

Last week the pace of the decline in flat rolled steel prices was relatively modest, most being in the single digits and in some cases there was no decline in our averages at all. There was some talk about “the bottom” of the market around the industry but, the inventory over-hang was just there and lead times remained short. As we moved into the end of the week and into the first two days of this week, prices began to move once again. As one steel buyer put it to us earlier today, “It’s more of the same. If you got big tons you are going to get more this week than last week.”

That is exactly what we have seen as we moved around the country talking to steel buyers about the latest flat rolled steel prices.

Here is how we see spot flat rolled prices this week (all prices shown are in net tons which are equal to 2,000 pounds):

Hot Rolled Coil: SMU Range is $460-$500 per net ton ($23.00/cwt- $25.00/cwt) with an average of $480 per ton ($24.00/cwt) FOB mill, east of the Rockies. The lower end of our range declined $20 per ton compared to one week ago while the upper end declined $10 per ton. Our average is now $15 per ton lower than last week. SMU price momentum for hot rolled steel is for prices to move lower over the next 30 days.

Hot Rolled Lead Times: 1-4 weeks.

Cold Rolled Coil: SMU Range is $580-$640 per net ton ($29.00/cwt- $32.00/cwt) with an average of $610 per ton ($30.50/cwt) FOB mill, east of the Rockies. The lower end of our range remained the same compared to last week while the upper end decreased $30 per ton. Our average is down $15 per ton compared to one week ago. SMU price momentum on cold rolled steel is for prices to move lower over the next 30 days.

Cold Rolled Lead Times: 2-6 weeks.

Galvanized Coil: SMU Base Price Range is $29.00/cwt-$31.50/cwt ($580-$630 per net ton) with an average of $30.25/cwt ($605 per ton) FOB mill, east of the Rockies. The lower end of our range declined $20 per ton compared to one week ago as did the upper end. Our average is now $20 per ton lower than last week. SMU anticipates galvanized prices will move lower over the next 30 days.

Galvanized .060” G90 Benchmark: SMU Range is $649-$699 per net ton with an average of $674 per ton FOB mill, east of the Rockies.

Galvanized Lead Times: 3-6 weeks.

Galvalume Coil: SMU Base Price Range is $29.00/cwt-$32.00/cwt ($580-$640 per net ton) with an average of $30.50/cwt ($610 per ton) FOB mill, east of the Rockies. The lower end of our range declined $30 per ton compared to last week while the upper end decreased $20 per ton. Our average is now $25 per ton lower than one week ago. Our expectation is for Galvalume prices to move lower over the next 30 days.

Galvalume .0142” AZ50, Grade 80 Benchmark: SMU Range is $871-$931 per net ton with an average of $901 per ton FOB mill, east of the Rockies.

Galvalume Lead Times: 4-6 weeks.

SMU Note: Below is an interactive graphic showing our hot rolled, cold rolled, galvanized, and Galvalume price history. You can only view this interactive graphic when you are logged into the website and reading the newsletter there. If you need help navigating the website or need to know your login information, contact us at info@SteelMarketUpdate.com or by calling 800-432-3475.

{amchart id=”110″ Weekly Pricing Article Graph- Use for NEWSLETTER Prices}