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
Trump tariffs face battle as court rejects legality
The “on again, off again” Trump tariff train continues to chug along, with several important court rulings this week.
Metalforming manufacturers predict stagnant market: PMA Business Conditions Report
Most of the surveyed US and Canadian metalforming manufacturers expect general economic activity to remain steady over the next three months.
SMU Community Chat: Zekelman calls for more support for steel consumers
“Unless the administration actually gets serious about levelling the playing field… for consumers of steel, then everything they’ve done on the steel side is useless.”
US and offshore HRC prices tick lower
Domestic hot-rolled coil prices moved lower again, maintaining the downward move seen in eight of the last 10 weeks.
Final Thoughts
A short tour of key dates in the Nippon/USS deal, and what the future might hold.
SMU Survey: Mill willingness to negotiate keeps on climbing
Most steel buyers responding to our latest market survey report that domestic mills are willing to talk price to secure new orders. Mill negotiability has continued to rise across all sheet and plate products we track, now at some of the highest levels recorded since late 2024.
SunCoke buys Phoenix Global in deal for $325M
SunCoke Energy has purchased Phoenix Global, a metals and mining services company, for $325 million.
US pig iron prices on the decline
The US mills have managed to reduce pig iron prices to correspond with the sharp declines in domestic scrap prices in May.
CRU: Trump hails a partnership of Nippon with USS
In a social media post, President Donald Trump said a planned partnership between Nippon Steel and U.S. Steel will add $14 billion to the US economy and ensure USS remains headquartered in Pittsburgh.
Commerce ups Vietnam’s dumping margins in coated trade case
Coated sheet imports from Vietnam face steeper anti-dumping duties after Commerce recalculated the rates due to ministerial errors.
SMU Community Chat replay now available
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]
Final Thoughts
I sort of expected big news last Friday and over the long, Memorial Day weekend. Because that’s become more the norm than the exception for steel this year.
Sure enough, Trump posted on Truth Social on Friday afternoon that he had given his blessing to a “partnership” between Nippon Steel and U.S. Steel. And then over the weekend we had market moving new on tariffs, this time involving the EU.
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 | 780 | 840 | 900 |
| 2 | CR | 980 | 1,035 | 1,090 |
| 5 | GI | 960 | 1,010 | 1,060 |
| 6 | AZ | 990 | 1,040 | 1,090 |
| 7 | PL | 990 | 1,120 | 1,250 |
Flat-Rolled Steel Prices
Steel Pricing Momentum
Flat Rolled Lead Times
Steel Buyers’ Sentiment
Mill Spot Price Negotiations
