Where the steel community comes together
Keeping a finger on the pulse of the flat-rolled steel market with the latest steel news, prices, and industry updates
What we do
Pricing
Steel Market Update produces weekly price assessments, news, and analysis of market trends affecting prices and sentiment on the US steel market.
Trends and Analysis
Sentiment, Inventories, Prices, and Key Market Indicators – everything you need to quickly adapt in the dynamic steel industry.
Events and Training
We are proud to be an industry leader with our nationally recognized trainings and events, like the Steel Summit Conference and Tampa Steel Conference. We offer in-person and virtual workshops in our Steel Industry Training Program across the country facilitated by industry experts.
Advertising
Maximize your reach to your target market through an advertising partnership with Steel Market Update. Advertising with Steel Market Update ensures optimal visibility, allowing you to effectively convey your unique message to companies involved in flat rolled steel products and markets.
Latest news
John Deere plans over 140 layoffs at two Iowa facilities
Over 140 John Deere employees at two of its Iowa facilities will be laid off in October.
Brazil, US buyers reach price compromise in pig iron market
A compromise has been reached in the pig iron market, sources told SMU. Recall we reported US buyers were bidding $390 per metric ton (mt) FOB or less while sellers were holding sideways at about $400/mt.
Nucor carries $875/ton HR list price into fifth week
Nucor kept hot-rolled (HR) coil prices unchanged this week, according to its latest consumer spot price (CSP) notice on Monday, Sept. 22.
Final Thoughts
But, for better or worse, there is not a major political party championing unfettered free markets. While Democrats and Republicans don’t agree on much, both have cheered tariffs on steel. And so if you’re going to handicap any future decision on Granite City’s operations, including its blast furnaces, you’d better factor in politics at least as much as economics.
USS to continue production at Granite City after ‘golden share’ pressure from Trump admin
U.S. Steel said it would continue to roll slabs at its Granite City Works mill near St. Louis, reversing a previous decision to end production at the plant in November.
“U.S. Steel will continue to supply slabs to Granite City. As we shared earlier, our goal was to maintain flexibility, and we are pleased to have found a solution to continue to slab consumption at Granite City,” a company spokesperson said in a statement to SMU.
Leibowitz: Trump’s tariffs confront a weakening market
Signs of weakness are already appearing in the tariff wall. The economy has slowed to the point that the Federal Reserve cut interest rates by 0.25%, or 25 basis points, last week. The cut came even as the rate of inflation continues to hover well above the Fed’s 2% target rate.
HR buyers report mixed market conditions
Hot-rolled coil market participants said they’re staying on their toes amid a market that continues to be characterized by uncertainty. A veteran Midwest-based service center operator contends that current conditions are unprecedentedly volatile. Being flexible with customers and strategic with mills is the only way to navigate through the uncertainty, he said. “No one wants […]
Price gap between US CR, most imports narrows
Cold-rolled (CR) coil prices ticked up in the US this week, matching a similar trend seen in offshore markets as well.
SMU Week in Review: Sept. 15 -19
A recap of the week in steel.
CRU: Iron ore to remain resilient while coking coal under downward pressure
For the next month, CRU forecasts that global demand for steelmaking raw materials will increase month on month (m/m).
Oil and gas rig counts rise in US and Canada
US rig counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.
Assessment underway after fire at Novelis’ Oswego plant
This piece was first published by SMU’s sister publication, Aluminum Market Update. To learn about AMU, visit their website or sign up for a free trial. The cause of a fire at Novelis’ aluminum mill in Oswego County, New York, is under investigation. The fire started just after 10 p.m. ET on Sept. 16 in the facility’s hot […]
Featured
Steel 101 Workshop
Our instructors will present the structure of the steel industry and the steelmaking process. We’ll start with raw materials and continue downstream to hot rolling, cold rolling, and coating. Whether you are new to the industry or are experienced and changing roles, our experts will help you gain the knowledge to succeed!
SMU Steel Summit
The SMU Steel Summit has gone from strength to strength over the last few years, growing from 434 attendees in 2016 to nearly 1500 in 2023. Representing more than 500 companies from the North American Steel Market, this is the event to learn what the future holds and to network and do business. Mark your calendars for Aug. 26-28, 2024.
Survey Results
Discover valuable insights into steel prices with SMU’s market survey. Our timely analysis of lead times, mill negotiations, inventory trends, and market sentiment empowers informed decision-making in a dynamic industry. Stay ahead of the curve and maximize your opportunities.
Community
Join us for our Community Chat Webinars! Every other Wednesday, we give our community the opportunity to hear from experts discussing topics important to the steel community we serve.
Pricing
Interactive Pricing Tool
Chart steel and scrap prices against key indicators with our Interactive Pricing Tool.
| wdt_ID | Product | Low | Avg | High |
|---|---|---|---|---|
| 1 | HR | 720 | 785 | 850 |
| 2 | CR | 920 | 990 | 1,060 |
| 5 | GI | 900 | 960 | 1,020 |
| 6 | AZ | 920 | 970 | 1,020 |
| 7 | PL | 950 | 975 | 1,000 |
Flat-Rolled Steel Prices
Steel Pricing Momentum
Flat Rolled Lead Times
Steel Buyers’ Sentiment
Mill Spot Price Negotiations
