Steel Products Prices North America
SMU Price Ranges & Indices: Stable to Slightly Higher
Written by Brett Linton
July 9, 2019
Our pricing data was collected on Monday and Tuesday of this week prior to the new Nucor price increase announcement on flat rolled steel. We are seeing the market as stable to slightly higher. This week, especially in light of the second price announcement (combined totaling $80 per ton), we will be able to see if the domestic mills have been able to move the needle on Price Momentum, which we still have as Neutral on flat rolled and Lower on plate.
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $510-$560 per ton ($25.50-$28.00/cwt) with an average of $535 per ton ($26.75/cwt) FOB mill, east of the Rockies. The lower end of our range increased $10 per ton compared to one week ago, while the upper end rose $20 per ton. Our overall average is up $15 per ton 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: 3-6 weeks
Cold Rolled Coil: SMU price range is $670-$730 per ton ($33.50-$36.50/cwt) with an average of $700 per ton ($35.00/cwt) FOB mill, east of the Rockies. The lower end of our range fell $10 per ton compared to last week, while the upper end rose $30 per ton. 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: 4-7 weeks
Galvanized Coil: SMU base price range is $34.50-$36.50/cwt ($690-$730 per ton) with an average of $35.50/cwt ($710 per ton) FOB mill, east of the Rockies. The lower end of our range fell $10 per ton compared to one week ago, while the upper end rose $10 per ton. Our overall average is unchanged 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 $768-$808 per net ton with an average of $788 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 5-7 weeks
Galvalume Coil: SMU base price range is $35.50-$37.00/cwt ($710-$740 per ton) with an average of $36.25/cwt ($725 per ton) FOB mill, east of the Rockies. The lower end of our range rose $10 per ton compared to last week, while the upper end remained the same. Our overall average is up $5 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 $1,001-$1,031 per net ton with an average of $1,016 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 4-8 weeks
Plate: SMU price range is $740-$800 per ton ($37.00-$40.00/cwt) with an average of $770 per ton ($38.50/cwt) FOB delivered to the customer’s facility. The lower end of our range remained the same compared to one week ago, while the upper end fell $20 per ton. Our overall average is down $10 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: 3-6 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
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