Prices
SMU Price Ranges & Indices: Range Bound
Written by John Packard
July 12, 2016
Flat rolled steel buyers reported steel prices as being essentially unchanged from this time last week.
Here is how we see prices this week:
Hot Rolled Coil: SMU Range is $600-$640 per ton ($30.00/cwt- $32.00/cwt) with an average of $620 per ton ($31.00/cwt) FOB mill, east of the Rockies. Both the lower and upper end of our range remained the same compared to one week ago. Our overall average remained the same as last week. Our price momentum on hot rolled steel is for prices to remain range-bound (+/- $20 per ton) over the next 30 days.
Hot Rolled Lead Times: 2-6 weeks
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 remained the same compared to last week while the upper end decreased $10 per ton. Our overall average is down $5 per ton over one week ago. Our price momentum on cold rolled steel is for prices to remain range-bound (+/- $20 per ton) over the next 30 days.
Cold Rolled Lead Times: 5-9 weeks
Galvanized Coil: SMU Base Price Range is $40.50/cwt-$42.50/cwt ($810-$850 per ton) with an average of $41.50/cwt ($830 per ton) FOB mill, east of the Rockies. Both the lower and upper ends of our range remained the same compared to one week ago. Our overall average is unchanged over last week. Our price momentum on galvanized steel is for prices to be range bound (+/- $20 per ton) over the next 30 days.
Galvanized .060” G90 Benchmark: SMU Range is $870-$910 per net ton with an average of $890 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 4-10 weeks
Galvalume Coil: SMU Base Price Range is $41.00/cwt-$43.00/cwt ($820-$860 per ton) with an average of $42.00/cwt ($840 per ton) FOB mill, east of the Rockies. Both the lower and upper ends of our range remained the same compared to last week. Our overall average is unchanged over one week ago. Our price momentum on Galvalume steel is for prices to be range-bound (+/- $20 per ton) over the next 30 days.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU Range is $1111-$1151 per net ton with an average of $1131 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 6-9 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
Read more from John PackardLatest in Prices
Final Thoughts
Most steel buyers think that steel prices will continue to rise into the 2026. But they don’t see the kinds of big gains that have characterized past market upturns, according to the results of SMU’s latest steel market survey.
SMU Survey: Mills less negotiable on spot prices
Most steel buyers responding to our market survey this week reported that domestic mills are considerably less willing to talk price on sheet and plate products than they were in recent weeks.
Price gap between US HRC, most imports narrows slightly
In dollar-per-ton terms, US product is on average $141/st less than landed import prices (inclusive of the 50% tariff). That’s down from $148/st last week.
SMU price ranges: Sheet ticks higher, plate stable
Sheet steel indices increased across the board this week, while plate prices held steady. All five of SMU’s price indices are higher than they were two weeks ago, and all but one are above levels recorded four weeks ago.
Nucor lifts HR spot price by $10/ton
Nucor has raised its weekly spot list price on hot-rolled coil by $10 per short ton (st) after keeping it unchanged since Aug. 25.