Steel Products Prices North America
SMU Price Ranges & Indices: Mixed Results
Written by John Packard
June 20, 2017
We saw mixed results this week as hot rolled prices rose a very modest $5, cold rolled was down $15, galvanized was up $10 and Galvalume remained the same even as the lower end dropped $10 per ton and the upper end rose $10 per ton. Definitely a mixed week as the market tries to figure out this whole Section 232 event (or non-event) and what the mills are going to do next.
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $580-$620 per ton ($29.00/cwt-$31.00/cwt) with an average of $600 per ton ($30.00/cwt) FOB mill, east of the Rockies. The lower end of our range remained the same compared to one week ago, while the upper end increased $10 per ton. Our overall average is up $5 per ton compared to last week. Our price momentum on hot rolled steel is pointing to Neutral as we evaluate whether the market has truly turned a corner and will head higher or lower from here.
Hot Rolled Lead Times: 3-6 weeks
Cold Rolled Coil: SMU price range is $740-$820 per ton ($37.00/cwt-$41.00/cwt) with an average of $780 per ton ($39.00/cwt) FOB mill, east of the Rockies. The lower end of our range decreased $40 per ton compared to last week, while the upper end increased $10 per ton. Our overall average is down $15 per ton compared to one week ago. Our price momentum on cold rolled steel is pointing to Neutral as we evaluate whether the market has truly turned a corner and will head higher or lower from here.
Cold Rolled Lead Times: 4-8 weeks
Galvanized Coil: SMU base price range is $38.50/cwt-$41.50/cwt ($770-$830 per ton) with an average of $40.00/cwt ($800 per ton) FOB mill, east of the Rockies. The lower end of our range remained the same compared to one week ago, while the upper end increased $20 per ton. Our overall average is up $10 per ton compared to last week. Our price momentum on galvanized steel is pointing to Neutral as we evaluate whether the market has truly turned a corner and will head higher or lower from here.
Galvanized .060” G90 Benchmark: SMU price range is $848-$908 per net ton with an average of $878 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 6-12 weeks
Galvalume Coil: SMU base price range is $38.50/cwt-$41.50/cwt ($770-$830 per ton) with an average of $40.00/cwt ($800 per ton) FOB mill, east of the Rockies. The lower end of our range decreased $10 per ton compared to last week, while the upper end increased $10 per ton. Our overall average is unchanged compared to last week. Our price momentum on Galvalume steel is pointing to Neutral as we evaluate whether the market has truly turned a corner and will head higher or lower from here.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $1,061-$1,121 per net ton with an average of $1,091 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 6-10 weeks
Plate: SMU price range is $720-$790 per ton ($36.00/cwt-$39.50/cwt) with an average of $755 per ton ($37.75/cwt) FOB delivered. The lower end of our range increased $20 per ton compared to one week ago, while the upper end increased $30 per ton. Our overall average is up $25 per ton compared to last week. Our price momentum on plate steel is pointing to Neutral as we evaluate whether the market has truly turned a corner and will head higher or lower from here.
Plate Lead Times: 4-6 weeks
SMU Note: Below is a graphic showing our hot rolled, cold rolled, galvanized, and Galvalume price history. We will add plate prices to this graph once we have gathered a few months of data. To use the graph’s 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
Nucor holds the line on published HR spot price
The steelmaker has kept its weekly consumer spot price for hot-rolled steel sheet unchanged since Nov. 12.
Nucor’s HR spot price unchanged for 5th week
Nucor’s weekly spot price for hot-rolled (HR) coil will remain at $750 per short ton (st) for a fifth week.
SMU price ranges: Market stable amid post-Thanksgiving glut
Steel sheet prices remain at or near multi-month lows, while plate prices continue edging lower from their mid-2022 peak.
Nucor again holds HR spot price at $750/ton
For the fourth week in a row, Nucor will keep its published spot price for hot-rolled (HR) coil unchanged.
SMU Community Chat: Timna Tanners on ‘Trumplications’ for steel in 2025
Wolfe Research's Managing Director Timna Tanners discusses the 'Trumplications' for steel in the coming year in this week's SMU Community Chat.