Steel Products Prices North America
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SMU Price Ranges & Indices: Little Change
Written by John Packard
June 12, 2018
Flat rolled and plate steel prices remained essentially unchanged over the past seven days. As one steel buyer commented to Steel Market Update last week, the steel mills seem to be content at the current price levels and they don’t want to be seen as getting “greedy.” This doesn’t mean they won’t try to get a little higher price when they can. The commercial manager of a steel mill told SMU earlier today about coated product base prices: “[We] won’t take orders below $51 or a bit higher. Let somebody else take the low stuff.” So, for the moment, prices seem to be range-bound. The SMU Price Momentum Indicator is pointing to Higher pricing over the next 30-60 days due to a perceived tightening of supply ahead. However, there are many factors that could impact steel availability. If Canada and Mexico block U.S. steel from going into Canada, there is going to be a lot of steel pushed into the domestic market, and we have two blast furnaces coming up at USS Granite City. Something to think about.
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $840-$930 per ton ($42.00/cwt-$46.50/cwt) with an average of $885 per ton ($44.25/cwt) FOB mill, east of the Rockies. Both the lower and upper ends of our range remained the same compared to one week ago. Our overall average is unchanged compared to last week. Our price momentum on hot rolled steel is now pointing to Higher indicating prices are expected to rise over the next 30-60 days.
Hot Rolled Lead Times: 4-8 weeks
Cold Rolled Coil: SMU price range is $950-$1,030 per ton ($47.50/cwt-$51.50/cwt) with an average of $990 per ton ($49.50/cwt) FOB mill, east of the Rockies. The lower end of our range remained the same compared to last week, while the upper end fell $10 per ton. Our overall average is down $5 per ton compared to one week ago. Our price momentum on cold rolled steel is now pointing to Higher indicating prices are expected to rise over the next 30-60 days.
Cold Rolled Lead Times: 5-8 weeks
Galvanized Coil: SMU base price range is $48.00/cwt-$52.00/cwt ($960-$1,040 per ton) with an average of $50.00/cwt ($1,000 per ton) FOB mill, east of the Rockies. The lower end of our range rose $10 per ton compared to one week ago, while the upper end fell $10 per ton. Our overall average is unchanged compared to last week. Our price momentum on galvanized steel is now pointing to Higher indicating prices are expected to rise over the next 30-60 days.
Galvanized .060” G90 Benchmark: SMU price range is $1,046-$1,126 per net ton with an average of $1,086 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 5-12 weeks
Galvalume Coil: SMU base price range is $50.00/cwt-$52.50/cwt ($1,000-$1,050 per ton) with an average of $51.25/cwt ($1,025 per ton) FOB mill, east of the Rockies. Both the lower and upper ends of our range remained the same compared to last week. Our overall average is unchanged compared to one week ago. Our price momentum on Galvalume steel is now pointing to Higher indicating prices are expected to rise over the next 30-60 days.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $1,291-$1,341 per net ton with an average of $1,316 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 6-10 weeks
Plate: SMU price range is $940-$1,020 per ton ($47.00/cwt-$51.00/cwt) with an average of $980 per ton ($49.00/cwt) FOB delivered. The lower end of our range increased $15 per ton compared to one week ago, while the upper end rose $20 per ton. Our overall average is up $17.50 per ton compared to last week. Our price momentum on plate steel is pointing to Higher indicating prices are expected to rise over the next 30-60 days.
Plate Lead Times: 5-8 weeks, allocation/controlled order entry
SMU Note: Below is a graphic showing our hot rolled, cold rolled, galvanized, Galvalume, and plate price history. This data is available here on our website with our interactive pricing tool. Note that plate prices are not yet available on our website, but we are in the process of adding that dataset. If you need help navigating the website or need to know your login information, contact us at info@SteelMarketUpdate.com or 800-432-3475.
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John Packard
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