Steel Products Prices North America
SMU Price Ranges & Indices: Consolidating Increases
Written by John Packard
December 13, 2016
Flat rolled prices rose again this week according to Steel Market Update sources. Our hot rolled, cold rolled, galvanized and Galvalume indices increased by $10 to $20 per ton and are very close to maximizing the increase announcements made two weeks ago. At that time the target was clearly set for $600 per ton hot rolled and $820 per ton base cold rolled and coated. We are within $20 per ton (or less) of the goal on each of the products.
SMU sources are split on whether there will be another price announcement before the New Year. Either way, the expectation is for prices to move perhaps another $40 per ton once we get into early January. One of the triggers for the increase will be higher ferrous scrap numbers.
Here is how we see prices this week:
Hot Rolled Coil: SMU Range is $580-$600 per ton ($29.00/cwt-$30.00/cwt) with an average of $590 per ton ($29.50/cwt) FOB mill, east of the Rockies. The lower end of our range increased $20 per ton over one week ago while the upper end remained the same. Our overall average is up $10 per ton compared to last week. Our price momentum on hot rolled steel continues to be pointing toward Higher which means that prices are expected to move up over the next 30-60 days.
Hot Rolled Lead Times: 3-5 weeks
Cold Rolled Coil: SMU Range is $780-$820 per ton ($39.00/cwt-$41.00/cwt) with an average of $800 per ton ($40.00/cwt) FOB mill, east of the Rockies. The lower end of our range rose $20 per ton over last week while the upper end remained the same. Our overall average is up $10 per ton over one week ago. Our price momentum on cold rolled steel continues to point toward Higher which means that prices are expected to move up over the next 30-60 days.
Cold Rolled Lead Times: 4-8 weeks
Galvanized Coil: SMU Base Price Range is $39.00/cwt-$41.00/cwt ($780-$820 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 $20 per ton over one week ago while the upper end remained the same. Our overall average is up $10 per ton compared to last week. Our price momentum on galvanized steel continues to point Higher which means that prices are expected to move up over the next 30-60 days.
Galvanized .060” G90 Benchmark: SMU Range is $849-$889 per net ton with an average of $869 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 4-9 weeks
Galvalume Coil: SMU Base Price Range is $39.00/cwt-$41.00/cwt ($780-$820 per ton) with an average of $40.00/cwt ($800 per ton) FOB mill, east of the Rockies. The lower end of our range rose $20 per ton over last week while the upper end remained the same. Our overall average is up $10 per ton over one week ago. Our price momentum on Galvalume steel continues to point Higher which means that prices are expected to move up over the next 30-60 days.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU Range is $1071-$1111 per net ton with an average of $1091 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 4-7 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 Steel Products Prices North America
Domestic CRC prices surge ahead of imports
The price spread between stateside-produced CR and imports reached its widest margin in over a year.
Evraz raises plate prices $160/ton
Evraz North America (NA) has followed Nucor and SSAB with a plate price increase of its own: up $160 per short ton (st). The increase was effective immediately for all new orders of carbon, high-strength low-alloy, and normalized and quenched-and-tempered plate products, as well as for hot-rolled coil, the steelmaker said in a letter to […]
Nucor lifts HR coil to $820/ton
Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil for a fourth consecutive week.
Nucor pushes HR spot price to $790/ton
Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $790 per short ton (st) on Monday, Feb. 10 – a $15/st bump vs. last week. The Charlotte, N.C.-based company has raised its weekly CSP by $40/st over the past three weeks after maintaining tags at $750/st since Nov. 12, according to SMU’s […]
ArcelorMittal Dofasco increases spot sheet prices
ArcelorMittal Dofasco is raising spot sheet prices by CA$100 per ton (US$70/ton). The Hamilton, Ontario-based flat rolled steelmaker told customers the increase is effective immediately for all new orders. It did not specify to what level this brings its base prices but noted its right to re-quote previous but unconfirmed orders. “We will continue to […]