SMU Price Ranges & Indices: HRC Near a Peak, or Taking a Pause?

Steel prices – along with prices for other commodities such oil – have normalized following the initial shock of the war. And future gains will be modest, some sources said. But others said the jury was still out until scrap prices settle later this month.

Prices for coated products – which tend to lag HRC price moves – saw sharper gains (up $65-70 per ton). And plate prices jumped (up $40 per ton) following a recent round of mill price hikes.

Hot Rolled Coil: SMU price range is $1,400-$1,520 per net ton ($70.00-$76.00/cwt) with an average of $1,460 per ton ($73.00/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 increased $20 per ton. Our overall average is up $25 per ton from last week. Our price momentum on hot rolled steel continues to point toward Higher prices over the next 30 days.

Hot Rolled Lead Times: 4-8 weeks

Cold Rolled 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 $20 per ton compared to last week, while the upper end remained unchanged. Our overall average is up $10 per ton from one week ago. Our price momentum on cold rolled steel continues to point toward Higher prices over the next 30 days.

Cold Rolled Lead Times: 6-8 weeks

Galvanized Coil: SMU price range is $1,800-$1,940 per net ton ($90.00-$97.00/cwt) with an average of $1,870 per ton ($93.50/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 increased $40 per ton. Our overall average is up $70 per ton from last week. Our price momentum on galvanized steel continues to point toward Higher prices over the next 30 days.

Galvanized .060” G90 Benchmark: SMU price range is $1,897-$2,037 per ton with an average of $1,967 per ton FOB mill, east of the Rockies.

Galvanized Lead Times: 5-10 weeks

Galvalume Coil: SMU price range is $1,800-$2,000 per net ton ($90.00-$100.00/cwt) with an average of $1,900 per ton ($95.00/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 increased $80 per ton. Our overall average is up $65 per ton from one week ago. Our price momentum on Galvalume steel continues to point toward Higher prices over the next 30 days.

Galvalume .0142” AZ50, Grade 80 Benchmark: SMU price range is $2,091-$2,291 per ton with an average of $2,191 per ton FOB mill, east of the Rockies.

Galvalume Lead Times: 7-12 weeks

Plate: SMU price range is $1,860-$1,910 per net ton ($93.00-$95.50/cwt) with an average of $1,885 per ton ($94.25/cwt) FOB mill. The lower end of our range increased $30 per ton compared to one week ago, while the upper end increased $50 per ton. Our overall average is up $40 per ton from last week. Our price momentum on plate steel continues to point toward Higher prices over the next 30 days.

Plate Lead Times: 5-8 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.