Steel Products Prices North America
October 4, 2016
SMU Price Ranges & Indices: Slip Sliding Away
Written by John Packard
Flat rolled steel prices continued their swan dive with hot rolled and cold rolled moving $10 per ton lower and galvanized/Galvalume moving lower by $20 per ton. For the first time in quite awhile SMU picked up information regarding HRC offers down to $460 per ton (with tons). Most buyers, however, were reporting $480 to $520 as where the vast majority of mills were quoting regular “every day” orders (no tonnage attached to the pricing).
Scrap prices are expected to drop this week as negotiations begin in earnest between the domestic steel mills and their scrap suppliers. Look for prices to drop $15 to $40 per ton depending on product and region. The lower scrap prices allow the EAF (mini) mills the flexibility to offer lower prices without giving up margin.
