Steel Prices

SMU price ranges: Sheet prices rebound, plate flat

Written by Brett Linton & David Schollaert

March 26, 2024

Sheet prices rose across the board this week while plate prices remained flat, according to our latest market check.

SMU’s average hot-rolled (HR) coil price increased to $810 per short ton (st) this week, up $15/st from last’s week’s five-month low.

Cold-rolled (CR) and galvanized products also increased week over week (w/w). Galvalume, meanwhile, saw a $10/st bump w/w, its second consecutive weekly increase.

SMU’s CR price now averages $1,115/st (+$15/st w/w). Our galvanized base price averages $1,120/st (+$30/st w/w). And our Galvalume price averages $1,150/st (+$10/st w/w).

SMU’s plate price now stands at $1,260/st on average, unchanged from last week. The market remains quiet since Nucor publicly lowered prices last month. Buyers are waiting to see where Nucor will price plate at the end of this week.

SMU’s sheet price momentum indicators remain at neutral as we’re unsure how prices will move over the next 30 days. We have moved our plate price momentum indicator from lower to neutral.

Hot-rolled coil

The SMU price range is $780–840/st, with an average of $810/st FOB mill, east of the Rockies. The bottom end of our range was up $20/st vs. one week ago, and the top end of our range was up $10/st w/w. Our overall average is up $15/st from last week. Our price momentum indicator for HR remains at neutral, meaning SMU is unsure where prices will move over the next 30 days.

Hot rolled lead times: 4.93 weeks on average

Cold-rolled coil

The SMU price range is $1,050–1,180/st, with an average of $1,115/st FOB mill, east of the Rockies. The lower end of our range was $30/st higher w/w, while the top end of our range was flat vs. the prior week. Our overall average is up $15/st from last week. Our price momentum indicator for CR remains at neutral, meaning SMU is unsure where prices will move over the next 30 days.

Cold rolled lead times: 7.58 weeks on average

Galvanized coil

The SMU price range is $1,070–1,170/st, with an average of $1,120/st FOB mill, east of the Rockies. The lower end of our range was $40/st higher vs. last week, while the top of our range was up $20/st vs. the prior week. Our overall average is $30/st higher w/w. Our price momentum indicator for galvanized remains at neutral, meaning SMU is unsure where prices will move over the next 30 days.

Galvanized .060” G90 benchmark: SMU price range is $1,167–1,267/st with an average of $1,217/st FOB mill, east of the Rockies.

Galvanized lead times: 7.55 weeks on average

Galvalume coil

The SMU price range is $1,120–1,180/st, with an average of $1,150/st FOB mill, east of the Rockies. The lower end of our range was $20/st higher w/w, while the top end of our range was up flat from the prior week. Our overall average was up $10/st when compared to the previous week. Our price momentum indicator for Galvalume remains at neutral, meaning SMU is unsure where prices will move over the next 30 days.

Galvalume .0142” AZ50, grade 80 benchmark: SMU price range is $1,414–1,474/st with an average of $1,444/st FOB mill, east of the Rockies.

Galvalume lead times: 7.67 weeks on average

Plate

The SMU price range is $1,220–1,300/st, with an average of $1,260/st FOB mill. Both the the lower end and the top end of our range were flat w/w. Our overall average is unchanged vs. a week ago. Our price momentum indicator for plate remains at neutral, meaning SMU is unsure where prices will move over the next 30 days.

Plate lead times: 5.41 weeks on average

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.

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.

Read more from Brett Linton

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.

Read more from David Schollaert

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