Steel Products Prices North America

SMU Price Ranges & Indices: Pace of Increases Slowing?
Written by Brett Linton
January 26, 2021
Steel prices continue to trek upward. But the pace has slowed, and questions about whether the market is at or near a summit have re-emerged. “Talked to two large OEMs that are postponing buys for the next few weeks. They believe we are at peak right now,” one respondent to Steel Market Update’s check of the market this week said. But others think such predictions ignore the more immediate reality of long mill lead times and limited spot availability. “We need steel. Inventories are not that great, so we have to buy when we can find tons,” another survey respondent said. As it stands, SMU’s hot-rolled coil price averages $1,140 per ton – up $10 per ton from last week and marking a new all-time high for the third week in a row. And SMU’s Price Momentum Indicators continue to point toward higher steel prices over the next 30-60 days. Still, HRC price increases are more modest this week compared to the $50-per-ton gain recorded on Jan. 19 and the $70-per-ton gain observed in the week prior.
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $1,080-$1,200 per net ton ($54.00-$60.00/cwt) with an average of $1,140 per ton ($57.00/cwt) FOB mill, east of the Rockies. The lower end of our range increased $30 per ton compared to one week ago, while the upper end remained unchanged. Our overall average is up $10 from last week. Our price momentum on hot rolled steel is Higher, meaning prices are expected to rise in the next 30 days.
Hot Rolled Lead Times: 5-10 weeks
Cold Rolled Coil: SMU price range is $1,240-$1,300 per net ton ($62.00-$65.00/cwt) with an average of $1,270 per ton ($63.50/cwt) FOB mill, east of the Rockies. The lower end of our range increased $50 per ton compared to last week, while the upper end remained the same. Our overall average is up $25 per ton from one week ago. Our price momentum on cold rolled steel is Higher, meaning prices are expected to rise in the next 30 days.
Cold Rolled Lead Times: 6-12 weeks
Galvanized Coil: SMU price range is $1,260-$1,340 per net ton ($63.00-$67.00/cwt) with an average of $1,300 per ton ($65.00/cwt) FOB mill, east of the Rockies. The lower end of our range remained unchanged compared to one week ago, while the upper end increased $40 per ton. Our overall average is up $20 from last week. Our price momentum on galvanized steel is Higher, meaning prices are expected to rise in the next 30 days.
Galvanized .060” G90 Benchmark: SMU price range is $1,329-$1,409 per ton with an average of $1,369 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 8-13 weeks
Galvalume Coil: SMU price range is $1,260-$1,360 per net ton ($63.00-$68.00/cwt) with an average of $1,310 per ton ($65.50/cwt) FOB mill, east of the Rockies. Both the lower and upper ends of our range remained the same compared to last week. Our overall average is unchanged from one week ago. Our price momentum on Galvalume steel is Higher, meaning prices are expected to rise in the next 30 days.
Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $1,551-$1,651 per ton with an average of $1,601 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 8-13 weeks
Plate: SMU price range is $940-$1,080 per net ton ($47.00-$54.00/cwt) with an average of $1,010 per ton ($50.50/cwt) FOB mill. The lower end of our range decreased $40 per ton compared to one week ago, while the upper end increased $40. Our overall average is unchanged compared to last week. Our price momentum on plate steel is Higher, meaning prices are expected to rise in the next 30 days.
Plate Lead Times: 6-9 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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