Steel Products Prices North America
SMU Price Ranges & Indices: Yikes!
Written by John Packard
May 10, 2016
We hope the contract customers are paying attention to what is going on in the flat rolled steel spot markets. When the adjustment comes at the end of this quarter there will be some very shocked purchasing people.
Spot flat rolled steel prices rose again this week by large double digits. Over the past two weeks we have seen prices up by $100 per ton (or more) and we are hearing of offers out of the domestic mills above the range we are showing below.
There are a number of mills who do not have their order books open. We heard from one Steel Dynamics customer that they were given an allocation but not firm pricing on all of the tons. The situation at North Star Bluescope will not help hot rolled prices over the next few weeks.
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 $600-$620 per ton ($30.00/cwt- $31.00/cwt) with an average of $610 per ton ($30.50/cwt) FOB mill, east of the Rockies. The lower end of our range increased $60 per ton compared to one week ago while the upper end increased $20 per ton. Our overall average is up $40 per ton over last week. SMU price momentum for hot rolled steel has prices rising over the next 30 days.
Hot Rolled Lead Times: All mills on controlled order entry or allocation
Cold Rolled Coil: SMU Range is $800-$840 per ton ($40.00/cwt- $42.00/cwt) with an average of $820 per ton ($41.00/cwt) FOB mill, east of the Rockies. The lower end of our range increased $100 per ton compared to last week while the upper end increased $60 per ton. Our overall average increased $80 per ton over one week ago. SMU price momentum for cold rolled steel is for prices to increase over the next 30 days.
Cold Rolled Lead Times: All mills on controlled order entry or allocation
Galvanized Coil: SMU Base Price Range is $39.50/cwt-$40.50/cwt ($790-$810 per ton) with an average of $40.00/cwt ($800 per ton) FOB mill, east of the Rockies. The lower end of our range increased $60 per ton compared to one week ago while the upper end increased $20 per ton. Our overall average is up $40 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 $850-$870 per net ton with an average of $860 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: All mills on controlled order entry or allocation
Galvalume Coil: SMU Base Price Range is $40.00/cwt-$41.00/cwt ($800-$820 per ton) with an average base of $40.50/cwt ($810 per ton) FOB mill, east of the Rockies. The lower end of our range increased $60 per ton compared to last week while the upper end increased $30 per ton. Our overall average increased $45 per ton over one week ago. Our price momentum for Galvalume steel is currently pointing towards an increase in prices over the next 30 days.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU Range is $1091-$1111 per net ton with an average of $1101 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: All mills on controlled order entry or allocation
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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