Steel Products Prices North America
SMU Price Ranges & Indices: Market Quiet
Written by John Packard
February 16, 2016
All is quiet in the flat rolled steel markets as prices essentially moved sideways, even though we picked up on slightly different ranges which affected our averages slightly. Steel buyers should not interpret this to mean there is weakness in the current market. Instead it is just a normal ebb and flow that we pick up on a weekly basis.
Hot rolled prices were down $5 per ton as the top end of our average slipped by $10 per ton. Cold rolled was a different story with both the low end dropping and the high end increasing. However the net result was a $5 decline in our average. Galvanized bucked the trend set by HR and CR and actually rose by $5 per ton and Galvalume was unchanged from one week ago.
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 $380-$430 per ton ($19.00/cwt- $21.50/cwt) with an average of $405 per ton ($20.25/cwt) FOB mill, east of the Rockies. The lower end of our range remained unchanged compared to one week ago while the upper end declined $10 per ton. Our overall average is down $5 per ton over last week. SMU price momentum for hot rolled steel has prices rising over the next 30 days.
Hot Rolled Lead Times: 2-5 weeks.
Cold Rolled Coil: SMU Range is $520-$580 per ton ($26.00/cwt- $29.00/cwt) with an average of $550 per ton ($27.50/cwt) FOB mill, east of the Rockies. The lower end of our range decreased $20 per ton compared to last week while the upper end rose $10 per ton. Our overall average is down $5 per ton compared to one week ago. SMU price momentum for cold rolled steel is for prices to increase over the next 30 days.
Cold Rolled Lead Times: 5-8 weeks.
Galvanized Coil: SMU Base Price Range is $27.00/cwt-$29.00/cwt ($540-$580 per ton) with an average of $28.00/cwt ($560 per ton) FOB mill, east of the Rockies. The lower end of our range remained unchanged compared to one week ago while the upper end increased $10 per ton. Our overall average is up $5 per ton over last week. Our price momentum on galvanized steel is for prices to move higher over the next 30 days.
Galvanized .060” G90 Benchmark: SMU Range is $600-$640 per net ton with an average of $620 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 4-9 weeks.
Galvalume Coil: SMU Base Price Range is $27.50/cwt-$29.00/cwt ($550-$580 per ton) with an average of $28.25/cwt ($565 per ton) FOB mill, east of the Rockies. Both the lower and upper ends of our range remained unchanged compared to last week. Our overall average is unchanged. Like the other flat rolled products mentioned above our price momentum for Galvalume is currently pointing towards an increase in prices over the next 30 days.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU Range is $841-$871 per net ton with an average of $856 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 5-9 weeks.
SMU Note: Below is a graphic showing our hot rolled, cold rolled, galvanized, and Galvalume price history. To use the graphs interactive capabilities, you must view it on our website here. 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.
John Packard
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