Steel Products

Hot Rolled Coil Tops $1,600 a Ton
Written by Brett Linton
June 1, 2021
Hot rolled steel prices passed another milestone this week, topping the $1,600 mark to set yet another record that would have been unimaginable at this time last year when HR was selling for around $500 a ton. Steel Market Update’s latest check of the market shows an average HR price of $1,620 per ton, up by $30 over last week. Cold rolled and coated products also jumped by another $30-40 per ton as the market gets back to business following the Memorial Day holiday and looks forward to what appears to be a promising summer ahead. Note that due to the limited transactions and data from the marketplace, we were conservative with our average on Galvalume, which may be somewhat higher. Plate prices were relatively unchanged. Despite prices that continue to rise week after week, buyers report little erosion in demand so far. SMU’s Price Momentum Indicators continue to point toward higher prices for all steel products in the next 30 days.
Here is how we see prices this week:
Hot Rolled Coil: SMU price range is $1,600-$1,640 per net ton ($80.00-$82.00/cwt) with an average of $1,620 per ton ($81.00/cwt) FOB mill, east of the Rockies. The lower end of our range increased $100 per ton compared to one week ago, while the upper end decreased $40 per ton. Our overall average is up $30 per ton 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: 8-12 weeks
Cold Rolled Coil: SMU price range is $1,800-$1,820 per net ton ($90.00-$91.00/cwt) with an average of $1,810 per ton ($90.50/cwt) FOB mill, east of the Rockies. The lower end of our range increased $100 per ton compared to last week, while the upper end decreased $30. Our overall average is up $35 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: 11-14 weeks
ARTICLE CONTINUES BELOW
{loadposition reserved_message}
Galvanized Coil: SMU price range is $1,800-$1,880 per net ton ($90.00-$94.00/cwt) with an average of $1,840 per ton ($92.00/cwt) FOB mill, east of the Rockies. The lower end of our range increased $80 per ton compared to one week ago, while the upper end decreased $20. Our overall average is up $30 per ton 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 $1,869-$1,949 per ton with an average of $1,909 per ton FOB mill, east of the Rockies.
Galvanized Lead Times: 12-16 weeks
Galvalume Coil: SMU price range is $1,800-$1,900 per net ton ($90.00-$95.00/cwt) with an average of $1,850 per ton ($92.50/cwt) FOB mill, east of the Rockies. The lower end of our range increased $80 per ton compared to last week, while the upper end remained unchanged. Our overall average is up $40 per ton 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 $2,091-$2,191 per ton with an average of $2,141 per ton FOB mill, east of the Rockies.
Galvalume Lead Times: 12-16 weeks
Plate: SMU price range is $1,320-$1,490 per net ton ($66.00-$74.50/cwt) with an average of $1,405 per ton ($70.25/cwt) FOB mill. Both the lower and upper ends of our range remained unchanged compared to one week ago. Our overall average is unchanged from one week ago. 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
Read more from Brett LintonLatest in Steel Products

SMU Steel Summit 2025: Prime hotel spots are nearly gone!
After last year’s historic turnout, the buzz around SMU’s Steel Summit 2025 is picking up. So, it’s no surprise room blocks are going quick, and I mean FAST. Get ready for another blockbuster event! This year’s meeting of the North American flat-rolled steel industry is shaping up to be another record-setting gathering with a timely […]

US CRC prices move ahead of imports
US cold-rolled (CR) coil prices moved higher again this week, while offshore prices were mixed.

SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]

SMU scrap market survey results now available
SMU’s ferrous scrap market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “ferrous scrap survey” results. Past flat-rolled survey results are also available under that selection. If you need help accessing the survey results, […]

Don’t miss next week’s Community Chat with Algoma Steel CEO Michael Garcia
Algoma Steel CEO Michael Garcia will be the featured guest on SMU’s Community Chat webinar on Wednesday, April 9, at 11 a.m. ET. Register here for free to join the timely conversation. As a key Canadian flat-rolled steel producer and supplier to the US, Algoma can offer valuable insight into the evolving tariff landscape — its challenges […]