Steel Products Prices North America

SMU Price Ranges & Indices: The Downtrend Continues

Written by Brett Linton

January 18, 2022

Steel Market Update’s check of the market this week shows a few hot rolled transactions at prices below $1,400 per ton ($70 per cwt) as flat-rolled steel prices continue their correction from record highs last year. The average price for HRC dropped by another $55 per ton in the past week to $1,425 per ton. Prices for coated products also saw double-digit declines. Cold rolled and plate prices were relatively flat, based on SMU’s sample of the market on Monday and Tuesday. The four-month trend of weakening steel prices would be more alarming were it not for a general consensus that steel demand remains relatively healthy in the first quarter. SMU’s price momentum indicators are pointing Lower for all flat-rolled products, which are expected to see further declines in the next 30 days. SMU’s Momentum Indicator on plate remains at Neutral until the market establishes a clearer direction.

Hot Rolled Coil: SMU price range is $1,350-$1,500 per net ton ($67.50-$75.00/cwt) with an average of $1,425 per ton ($71.25/cwt) FOB mill, east of the Rockies. The lower end of our range decreased $50 per ton compared to one week ago, while the upper end declined $60 per ton. Our overall average is down $55 per ton from last week. Our price momentum on hot rolled steel is at Lower, meaning we expect prices to decrease over the next 30 days.

Hot Rolled Lead Times: 3-6 weeks* (preliminary ranges from our ongoing market survey, final lead times data will be released on Thursday)

Cold Rolled Coil: SMU price range is $1,800-$1,970 per net ton ($90.00-$98.50/cwt) with an average of $1,885 per ton ($94.25/cwt) FOB mill, east of the Rockies. The lower end of our range remained unchanged compared to last week, while the upper end increased $10 per ton. Our overall average is up $5 per ton from one week ago. Our price momentum on cold rolled steel is at Lower, meaning we expect prices to decrease over the next 30 days.

Cold Rolled Lead Times: 5-8 weeks*

Galvanized Coil: SMU price range is $1,760-$1,950 per net ton ($88.00-$97.50/cwt) with an average of $1,855 per ton ($92.75/cwt) FOB mill, east of the Rockies. The lower end of our range declined $40 per ton compared to one week ago, while the upper end decreased $10 per ton. Our overall average is down $25 per ton from last week. Our price momentum on galvanized steel is at Lower, meaning we expect prices to decrease over the next 30 days.

Galvanized .060” G90 Benchmark: SMU price range is $1,847-$2,037 per ton with an average of $1,942 per ton FOB mill, east of the Rockies.

Galvanized Lead Times: 4-10 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 remained unchanged compared to last week, while the upper end decreased $100 per ton. Our overall average is down $50 per ton from one week ago. Our price momentum on Galvalume steel is at Lower, meaning we expect prices to decrease over 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: 4-7 weeks*

Plate: SMU price range is $1,800-$1,830 per net ton ($90.00-$91.50/cwt) with an average of $1,815 per ton ($90.75/cwt) FOB mill. Both the lower and upper ends of our range decreased $10 per ton compared to one week ago. Our overall average is down $10 per ton from last week. Our price momentum on plate steel remains at Neutral until the market establishes a clear direction.

Plate Lead Times: 3-8 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

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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