Steel Products Prices North America

Price Ranges & Indices: Downtrend Continues from 2018

Written by Brett Linton

January 3, 2019

January 2019 has begun and steel prices have taken up where they left off as Steel Market Update price ranges and averages dropped compared to where we ended 2018. Steel buyers are worried about inventory levels, which some service centers reported as having grown more than expected during the month of December. They also worry about Section 232 tariffs, especially what is going to happen to Mexico and Canada, as well as scrap prices and the drop in the stock markets, which have some concerned about the overall economy. Many fingernails are being chewed this week as the market waits to see just what will push prices from here.

Here is how we see prices this week:

Hot Rolled Coil: SMU price range is $700-$760 per ton ($35.00/cwt-$38.00/cwt) with an average of $730 per ton ($36.50/cwt) FOB mill, east of the Rockies. The lower end of our range declined $10 per ton compared to one week ago, while the upper end fell $20 per ton. Our overall average is down $15 per ton compared to last week. Our price momentum on hot rolled steel is Lower meaning we expect prices to decline over the next 30 to 60 days.

Hot Rolled Lead Times: 2-5 weeks

Cold Rolled Coil: SMU price range is $780-$870 per ton ($39.00/cwt-$43.50/cwt) with an average of $825 per ton ($41.25/cwt) FOB mill, east of the Rockies. The lower end of our range dropped $60 per ton compared to last week, while the upper end fell $10 per ton. Our overall average is down $35 per ton compared to one week ago. Our price momentum on cold rolled steel is Lower meaning we expect prices to decline over the next 30 to 60 days.

Cold Rolled Lead Times: 4-7 weeks

Galvanized Coil: SMU base price range is $39.00/cwt-$43.00/cwt ($780-$860 per ton) with an average of $41.00/cwt ($820 per ton) FOB mill, east of the Rockies. The lower end of our range declined $40 per ton compared to one week ago, while the upper end fell $20 per ton. Our overall average is down $30 per ton compared to last week. Our price momentum on galvanized steel is Lower meaning we expect prices to decline over the next 30 to 60 days.

Galvanized .060” G90 Benchmark: SMU price range is $858-$938 per net ton with an average of $898 per ton FOB mill, east of the Rockies.

Galvanized Lead Times: 5-8 weeks

Galvalume Coil: SMU base price range is $40.00/cwt-$43.00/cwt ($800-$860 per ton) with an average of $41.50/cwt ($830 per ton) FOB mill, east of the Rockies. The lower end of our range declined $20 per ton compared to last week, while the upper end fell $30 per ton. Our overall average is down $25 per ton compared to one week ago. Our price momentum on Galvalume steel is Lower meaning we expect prices to decline over the next 30 to 60 days.

Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $1,091-$1,151 per net ton with an average of $1,121 per ton FOB mill, east of the Rockies.

Galvalume Lead Times: 5-7 weeks

Plate: SMU price range is $980-$1,030 per ton ($49.00/cwt-$51.50/cwt) with an average of $1,005 per ton ($50.25/cwt) FOB delivered to the customer’s facility. The lower end of our range rose $10 per ton compared to one week ago, while the upper end remained the same. Our overall average is up $5 per ton compared to last week. Our price momentum on plate steel is Neutral meaning we expect stable prices over the next 30 days. The domestic plate mills continue to be on controlled order entry as their order books are strong with limited spot plate tonnage available.

Plate Lead Times: 5-9+ 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.

Brett Linton

Brett Linton is a senior analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

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