SMU Data and Models

SMU price ranges: Sheet prices mixed as HR holds, CR/galv dip

Written by David Schollaert & Michael Cowden

January 30, 2024

Movements in sheet prices were mixed this week, with hot-rolled coil (HRC) unchanged but cold rolled (CR) and coated prices down.

SMU’s HRC prices remain at $1,000 per short on (st) on average. Galvalume prices were also unchanged at $1,310/st.

But CR coil prices slipped to $1,275/st on average, down $30/st from last week. Galvanized base prices now stand at $1,270/st on average – also down $30/st from a week ago.

Our plate price is flat at $1,375/st, down a modest $5/st week over week (w/w).

SMU’s price momentum indicator continues to point downward because we don’t see a catalyst that might lead prices higher over the near term.

Hot-rolled coil

The SMU price range is $940–1,060/st, with an average of $1,000/st FOB mill, east of the Rockies. The bottom end of our range was down $10/st vs. one week ago, while the top end of our range was up $10/st w/w. Our overall average, as a result, was unchanged w/w. Our price momentum indicator for HRC remains lower, meaning SMU expects prices will move lower over the next 30 days.

Hot rolled lead times: 6–8 weeks

Cold-rolled coil

The SMU price range is $1,240–1,310/st, with an average of $1,275/st FOB mill, east of the Rockies. The lower end of our range was $30/st lower vs. the prior week, while the top end of our range was also down $30/st. Our overall average is down $30/st from last week. Our price momentum indicator for CRC remains lower, meaning SMU expects prices will move lower over the next 30 days.

Cold rolled lead times: 6–12 weeks

Galvanized coil

The SMU price range is $1,240–1,300/st, with an average of $1,270/st FOB mill, east of the Rockies. The lower end of our range was down $20/st vs. the prior week, while the top end of our range was $40/st lower. Our overall average is $30/st lower than the week prior. Our price momentum indicator for galvanized remains lower, meaning SMU expects prices will move lower over the next 30 days.

Galvanized .060” G90 benchmark: SMU price range is $1,337–1,397/st with an average of $1,367/st FOB mill, east of the Rockies.

Galvanized lead times: 6-11 weeks

Galvalume coil

The SMU price range is $1,260–1,360/st, with an average of $1,310/st FOB mill, east of the Rockies. The lower end and the top end of our range was unchanged from the prior week. Our overall average, as a result, was also unchanged when compared to the previous week. Our price momentum indicator for Galvalume remains lower, meaning SMU expects prices will move lower over the next 30 days.

Galvalume .0142” AZ50, grade 80 benchmark: SMU price range is $1,554–1,654/st with an average of $1,604/st FOB mill, east of the Rockies.

Galvalume lead times: 6-15 weeks

Plate

The SMU price range is $1,320–1,430/st, with an average of $1,375/st FOB mill. The lower end of our range was $10/st lower vs. the week prior, while the top end of our range was unchanged. Our overall average is down $5/st vs. one week ago. Our price momentum indicator for plate remains lower, meaning SMU expects prices will move lower over the next 30 days.

Plate lead times: 4-7 weeks

SMU note: Above is a graphic showing our hot rolled, cold rolled, galvanized, Galvalume, and plate price history. This data is also 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.

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

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Michael Cowden

Michael Cowden is managing editor for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

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