Steel Products Prices North America
SMU Price Ranges & Indices: Down Another $10
Written by Brett Linton
July 28, 2020
Steel Market Update’s check of the market this week shows flat rolled and plate steel prices falling by a further $10, taking the benchmark hot rolled price down to $450 per ton. Most respondents expressed doubts that the price increase announced last week by the integrated mills will gain any traction, especially since the minimills have opted not to follow suit with price hikes of their own, at least so far. SMU’s Price Momentum Indicators remain at Neutral while the market sorts out the latest developments.
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $420-$480 per ton ($21.00-$24.00/cwt) with an average of $450 per ton ($22.50/cwt) FOB mill, east of the Rockies. Both the lower and upper ends of our range declined $10 per ton compared to one week ago. Our overall average is down $10 per ton over last week. Our price momentum on hot rolled steel is now at Neutral until the market establishes a clear direction.
Hot Rolled Lead Times: 3-4 weeks
Cold Rolled Coil: SMU price range is $620-$660 per ton ($31.00-$33.00/cwt) with an average of $640 per ton ($32.00/cwt) FOB mill, east of the Rockies. Both the lower and upper ends of our range declined $10 per ton compared to last week. Our overall average is down $10 per ton over one week ago. Our price momentum on cold rolled steel is now at Neutral until the market establishes a clear direction.
Cold Rolled Lead Times: 4-8 weeks
Galvanized Coil: SMU price range is $600-$660 per ton ($30.00-$33.00/cwt) with an average of $630 per ton ($31.50/cwt) FOB mill, east of the Rockies. The lower end of our range decreased $20 per ton compared to one week ago, while the upper end remained the same. Our overall average declined $10 per ton over last week. Our price momentum on galvanized steel is now at Neutral until the market establishes a clear direction.
Galvanized .060” G90 Benchmark: SMU price range is $669-$729 per net ton with an average of $699 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 4-6 weeks
Galvalume Coil: SMU price range is $650-$680 per ton ($32.50-$34.00/cwt) with an average of $665 per ton ($33.25/cwt) FOB mill, east of the Rockies. The lower end of our range remained unchanged compared to last week, while the upper end decreased $10 per ton. Our overall average is down $5 per ton over one week ago. Our price momentum on Galvalume steel is at Neutral until the market establishes a clear direction.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $941-$971 per net ton with an average of $956 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 5-8 weeks
Plate: SMU price range is $570-$610 per ton ($28.50-$30.50/cwt) with an average of $590 per ton ($29.50/cwt) FOB delivered to the customer’s facility. The lower end of our range decreased $20 per ton compared to one week ago, while the upper end remained unchanged. Our overall average is down $10 per ton over last week. Our price momentum on plate steel is at Neutral until the market establishes a clear direction.
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. If you need help navigating the website or need to know your login information, contact us at info@SteelMarketUpdate.com.
Brett Linton
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