Steel Products Prices North America

SMU Price Ranges & Indices: A Floor Has Appeared

Written by Brett Linton

July 2, 2019

Last week, the domestic steel mills raised prices on hot rolled, cold rolled and coated products (galvanized, Galvalume, etc.) by approximately $40 per ton ($2.00/cwt). Since then, we have seen lead times move on hot rolled by about 1 to 1.5 weeks, according to the steel buyers canvassed yesterday and today. Cold rolled and coated lead times move a little faster than HRC. The mills appear to be out of July production on HRC and into mid-late August and beyond for cold rolled and coated.

We heard there were a couple of mills that have indeed drawn a line in the sand and are holding out for price increases. We gathered hot rolled offers from a low of $500 to above $560 per ton (although we are not aware of any customers buying the $560+ HRC yet).

We will continue to keep our Price Momentum Indicator for Hot Rolled, Cold Rolled, Galvanized and Galvalume at Neutral. Our plate momentum indicator is at Lower as we are being advised there could be more erosion in plate pricing to come.

Here is how we see prices this week:

Hot Rolled Coil: SMU price range is $500-$540 per ton ($25.00/cwt-$27.00/cwt) with an average of $520 per ton ($26.00/cwt) 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 hot rolled steel is now Neutral as we wait for the market to establish a clear direction.

Hot Rolled Lead Times: 2-5 weeks

Cold Rolled Coil: SMU price range is $680-$700 per ton ($34.00/cwt-$35.00/cwt) with an average of $690 per ton ($34.50/cwt) FOB mill, east of the Rockies. The lower end of our range rose $20 per ton compared to last week, while the upper end remained the same. Our overall average is up $10 per ton compared to one week ago. Our price momentum on cold rolled steel is now Neutral as we wait for the market to establish a clear direction.

Cold Rolled Lead Times: 5-8 weeks

Galvanized Coil: SMU base price range is $35.00/cwt-$36.00/cwt ($700-$720 per ton) with an average of $35.50/cwt ($710 per ton) FOB mill, east of the Rockies. The lower end of our range rose $40 per ton compared to one week ago, while the upper end remained the same. Our overall average is up $20 per ton compared to last week. Our price momentum on galvanized steel is now Neutral as we wait for the market to establish a clear direction.

Galvanized .060” G90 Benchmark: SMU price range is $778-$798 per net ton with an average of $788 per ton FOB mill, east of the Rockies.

Galvanized Lead Times: 4-8 weeks

Galvalume Coil: SMU base price range is $35.00/cwt-$37.00/cwt ($700-$740 per ton) with an average of $36.00/cwt ($720 per ton) FOB mill, east of the Rockies. The lower end of our range rose $20 per ton compared to last week, while the upper end remained the same. Our overall average is up $10 per ton compared to one week ago. Our price momentum on Galvalume steel is now Neutral as we wait for the market to establish a clear direction.

Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $991-$1,031 per net ton with an average of $1,011 per ton FOB mill, east of the Rockies.

Galvalume Lead Times: 6-7 weeks

Plate: 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 delivered to the customer’s facility. 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 plate steel is Lower, meaning we expect prices to decline over the next 30 days.

Plate Lead Times: 4-6 weeks

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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