Steel Products Prices North America

Comparison Price Indices: Mixed

October 8, 2017

Steel Market Update (SMU) found steel prices mixed this past week on not only our own index, but also that of Platts. In the past, we have seen this when there is limited buying due to a slowdown in business or in relationship to an expansion of inventories.

Benchmark hot rolled was lower this past week with SMU taking our average down $15 per ton to $595 per ton ($29.75/cwt). Platts saw their average as slightly lower as well, dropping $5 per ton to $610 per ton (actually $609.50 per ton). Both SMU and Platts had two price revisions on HRC during the course of the week.

Cold rolled price adjustments over the course of last week were fairly modest with Platts reporting their average at $806.25 per ton. SMU saw prices as lower with our CRC average hitting $785 per ton.

Galvanized was unchanged last week with benchmark .060″ G90 averaging $863 per ton. We continue to use $78 per ton for our zinc extra rather than the higher $86 per ton number that is out there and being used by at least one other major index.

Benchmark Galvalume .0142″ AZ50, Grade 80 average was $10 per ton lower last week than what we reported the week prior.

Plate prices fell on both Platts (-$30) and SMU (-$15). The SMU number includes freight while the Platts average is based on being priced FOB Southeastern USA Mill.

SMU Note: Galvanized prices include $78 in extras for a .060″ G90 product. Galvalume prices include $291 in extras for a .0142” AZ50 Grade 80 product.

FOB points for each index:

SMU: Domestic Mill, East of the Rockies.
SteelBenchmarker: Domestic Mill, East of the Mississippi.
Platts: Northern Indiana Domestic Mill.

Plate price FOB points are different for each of the indexes:

SMU: FOB Delivered to the Customer (includes freight)
Platts: FOB Southeaster Mill (does not include freight)

Note that SteelBenchmarker produces numbers twice per month. On the weeks they produce numbers, we will include them in the average. The weeks where they do not produce numbers (NA = not available) we will not include their outdated numbers in the CPI average.