SMU Price Ranges & Indices: Firming Prices at the Lower End of the Range

Service center buyers are suggesting that another price increase announcement could be coming, although most think it will be best served if the mills finish off their June order book on cold rolled and coated before making any new price adjustments.

SMU thinks there move toward higher prices will be slow to develop (even with our Momentum pointing toward higher prices) unless there is a filing of a trade case.

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 $450-$490 per net ton ($22.50/cwt- $24.50/cwt) with an average of $470 per ton ($23.50/cwt) FOB mill, east of the Rockies. The lower end of our range increased $10 per ton compared to last week and the upper end increased $20 per ton. Our average is now $15 per ton higher compared to one week ago. SMU price momentum for hot rolled steel is for prices to trend slowly higher over the next 30 to 60 days.

Hot Rolled Lead Times: 3-4 weeks.

Cold Rolled Coil: SMU Range is $560-$600 per net ton ($28.00/cwt- $30.00/cwt) with an average of $580 per ton ($29.00/cwt) FOB mill, east of the Rockies. The lower end of our range rose $10 per ton compared to one week ago, as did the upper end of our range. Our average is up $10 per ton compared to last week. SMU price momentum on cold rolled steel is for prices to slowly move higher over the next 30 to 60 days.

Cold Rolled Lead Times: 4-7 weeks.

Galvanized Coil: SMU Base Price Range is $27.50/cwt-$30.00/cwt ($550-$600 per net ton) with an average of $28.75/cwt ($575 per ton) FOB mill, east of the Rockies. The lower end of our range increased $20 per ton compared to last week while the upper end remained the same. Our average is now $10 per ton higher compared to one week ago. SMU anticipates galvanized prices to move slowly higher over the next 30 to 60 days.

Galvanized .060” G90 Benchmark: SMU Range is $619-$669 per net ton with an average of $644 per ton FOB mill, east of the Rockies.

Galvanized Lead Times: 4-8 weeks.

Galvalume Coil: SMU Base Price Range is $28.50/cwt-$30.50/cwt ($570-$610 per net ton) with an average of $29.50/cwt ($590 per ton) FOB mill, east of the Rockies. The lower end of our range increased $20 per ton compared to one week ago while the upper end remained the same. Our average is now $10 per ton higher compared to last week. Our expectation is for Galvalume prices to slowly move higher over the next 30 to 60 days.

Galvalume .0142” AZ50, Grade 80 Benchmark: SMU Range is $861-$901 per net ton with an average of $881 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}