Steel Products Prices North America
January 4, 2022
SMU Price Ranges & Indices: New Year, Same Downtrend
Written by Brett Linton
Steel began the New Year with the same old trend of declining prices that began four months ago. Steel Market Update’s first poll of the market in 2022 shows flat rolled and plate prices down again anywhere from $10-65 per ton. The wide spread in this week’s price ranges most likely reflects business hiccups caused by the holidays. SMU’s average benchmark price for hot rolled coil is now $1,535 per ton, down $65 from our last check of the market on Dec. 20-21 and more than $400 per ton below the peak in early September. Cold rolled and coated products saw smaller declines, as did plate. SMU’s Price Momentum Indicators are pointing Lower for all flat-rolled products – meaning further price declines are likely over the next 30 days – but the indicator for plate remains Neutral until the trend becomes clearer. SMU will be keeping a close eye on demand, inventory levels, mill lead times and import arrivals as the downtrend plays out over the first quarter, and possibly beyond.
Hot Rolled Coil: SMU price range is $1,400-$1,670 per net ton ($70.00-$83.50/cwt) with an average of $1,535 per ton ($76.75/cwt) FOB mill, east of the Rockies. The lower end of our range decreased $100 per ton compared to two weeks prior, while the upper end decreased $30. Our overall average is down $65 per ton from two weeks ago. Our price momentum on hot rolled steel is at Lower, meaning we expect prices to decrease over the next 30 days.
