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 slows HRC price climb with $5/ton increase
After eight weeks of double-digit price increases on hot-rolled (HR) coil, Nucor slowed the price rise this week with an increase of $5 per short ton.
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 […]