SMU Price Ranges & Indices: New Increases...

Our SMU Price Momentum Indicator continues to point toward higher prices over the next 30 days. One reason is the higher scrap prices which are up $30-$40 per gross ton for January delivery to the domestic mills. There is a debate as to whether scrap has “peaked” at this point or if there is a little more room to run come February. Iron ore prices are “steady” around $77-80/dmt for 62% Fe fines (China) and coking coal has come off its $300 high by a significant amount. So, we will need to watch momentum carefully as we move into February and March. Demand will be the wild card from here…

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 ends of our range increased $10 per ton compared to one week ago. Our overall average is up $10 per ton over 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: 3-6 weeks

Cold Rolled Coil: SMU Range is $810-$840 per ton ($40.50/cwt-$42.00/cwt) with an average of $825 per ton ($41.25/cwt) FOB mill, east of the Rockies. Both the lower and upper ends of our range increased $10 per ton compared to last week. 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: 4-10 weeks

Galvanized Coil: SMU Base Price Range is $40.50/cwt-$43.00/cwt ($810-$860 per ton) with an average of $41.75/cwt ($835 per ton) FOB mill, east of the Rockies. The lower end of our range increased $10 per ton compared to one week ago while the upper end increased $30 per ton. Our overall average is up $20 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 $879-$929 per net ton with an average of $904 per ton FOB mill, east of the Rockies.

Galvanized Lead Times: 4-10 weeks

Galvalume Coil: SMU Base Price Range is $42.00/cwt-$43.00/cwt ($840-$860 per ton) with an average of $42.50/cwt ($850 per ton) FOB mill, east of the Rockies. The lower end of our range increased $40 per ton compared to last week while the upper end increased $20 per ton. Our overall average is up $30 per ton compared to 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 $1131-$1151 per net ton with an average of $1141 per ton FOB mill, east of the Rockies.

Galvalume Lead Times: 7-12 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.