Steel Products Prices North America

SMU Price Ranges & Indices: Mixed Results, Bottom In?

Written by Brett Linton

February 5, 2019

We gathered mixed results regarding flat rolled and plate steel pricing over the past two days. When we say mixed, we don’t mean some prices falling while other prices were rising. What we found was pricing stable to rising. We heard from a number of buyers that there were mills still actively pursuing prices at, or near, the lows of the market. One steel mill executive told SMU their prices were up $10 to $15 per ton and they were waiting to see how strong an order book they had this week. In our HARDI galvanized call this morning, one of the steel buyers told those on the call that he was being solicited by a couple of mills needing galvanized orders. We also heard from another buyer (not on that call and 800 miles away) that they, too, were being asked for galvanized tons (albeit at higher than the very low base pricing they had prior to the announcement). Steel Market Update has our flat rolled price momentum at Neutral and our plate momentum indicator at Lower. We will see as the week progresses if a stronger flat rolled market carries over to plate (the strong plate market had little impact on flat rolled over the past six months).

Here is how we see prices this week:

Hot Rolled Coil: SMU price range is $650-$710 per ton ($32.50/cwt-$35.50/cwt) with an average of $680 per ton ($34.00/cwt) FOB mill, east of the Rockies. Both the lower and upper ends of our range increased $10 per ton compared to one week ago. Our overall average is up $10 per ton compared to last week. Our price momentum on hot rolled steel is Neutral meaning we expect prices to remain steady over the next 30 to 60 days.

Hot Rolled Lead Times: 2-5 weeks

Cold Rolled Coil: SMU price range is $770-$820 per ton ($38.50/cwt-$41.00/cwt) with an average of $795 per ton ($39.75/cwt) FOB mill, east of the Rockies. The lower end of our range rose $10 per ton compared to last week, while the upper end increased $30 per ton. Our overall average is up $20 compared to one week ago. Our price momentum on cold rolled steel is Neutral meaning we expect prices to remain steady over the next 30 to 60 days.

Cold Rolled Lead Times: 4-8 weeks

Galvanized Coil: SMU base price range is $38.00/cwt-$42.00/cwt ($760-$840 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 rose $5 per ton. Our overall average is up $2.50 per ton compared to last week. Our price momentum on galvanized steel is Neutral meaning we expect prices to remain steady over the next 30 to 60 days.

Galvanized .060” G90 Benchmark: SMU price range is $838-$918 per net ton with an average of $878 per ton FOB mill, east of the Rockies.

Galvanized Lead Times: 4-9 weeks

Galvalume Coil: SMU base price range is $38.50/cwt-$42.50/cwt ($770-$850 per ton) with an average of $40.50/cwt ($810 per ton) FOB mill, east of the Rockies. Both the lower and upper ends of our range increased $10 per ton compared to last week. Our overall average is up $10 compared to one week ago. Our price momentum on Galvalume steel is Neutral meaning we expect prices to remain steady over the next 30 to 60 days.

Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $1,061-$1,141 per net ton with an average of $1,101 per ton FOB mill, east of the Rockies.

Galvalume Lead Times: 4-7 weeks

Plate: SMU price range is $980-$1,020 per ton ($49.00/cwt-$51.00/cwt) with an average of $1,000 per ton ($50.00/cwt) FOB delivered to the customer’s facility. Both the lower and upper ends of our range increased $20 per ton compared to one week ago. Our overall average is up $20 per ton compared to last week. Our price momentum on plate steel is Lower meaning we expect mild erosion over next 30 to 60 days.

Plate Lead Times: 4-7 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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