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
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Pricing
Steel Market Update produces weekly price assessments, news, and analysis of market trends affecting prices and sentiment on the US steel market.
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Sentiment, Inventories, Prices, and Key Market Indicators – everything you need to quickly adapt in the dynamic steel industry.
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Latest news
Ternium Mexico logs record shipments in Q3 as Pesqueria expansion ramps up
Luxembourg-based Ternium achieved record-high sales volumes in Mexico in the third quarter, reaching key milestones at its Pesqueria industrial center, the largest project in the Latin American steelmaker’s history.
Domestic and offshore HR prices trend toward parity
US hot-rolled (HR) coil prices moved lower this past week while tags in offshore markets were largely higher. Domestic tags are again nearly level with imports on a landed basis.
CRU: Dollar and bond yields rise, metal prices fall as Trump wins election
Donald Trump has won the US presidential election. The Republican party has re-taken control of the Senate. Votes are still being counted in many tight congressional races. But based on results so far, the Republicans seem likely to maintain control of the House of Representatives. If confirmed, this will give Trump considerable scope to pass legislation pursuing his agenda.
What this means for US policy is not immediately obvious. Trump will not be inaugurated until Jan. 20. In the coming weeks and months, he will begin to assemble his cabinet, which may give a clearer signal on his policy priorities and approaches. Based on statements he made during the presidential campaign, we have set out the likely direction of his economic policy here and green policy here.
SMU Community Chat: Nov. 13 at 11 am ET with Timna Tanners of Wolfe Research
Timna Tanners, managing director of equity research for Wolfe Research, will be the featured speaker on the next SMU Community Chat.
The webinar will be on Wednesday, Nov. 13, at 11 am ET. It’s free to attend. You can register here.
Timna – who has coined Sheet Storm, Scrap Squeeze, and Galv Galore – is one of the most popular guests on our Community Chats. Her insights and forecasts are always thought-provoking.
Final Thoughts
Votes were still being counted when this column posted on Tuesday evening. And I’d be surprised if we know who the president will be by the time some of you are reading it on Wednesday morning.
SMU price ranges: Most products tick lower on election week
SMU price indices edged lower this week for all products but one, marking the fifth consecutive week of overall declining prices.
SMU Community Chat: Leibowitz talks trade, tariffs, and changing world order
Last week’s Community Chat with international trade attorney and regular SMU columnist Lewis Leibowitz was packed full of valuable perspectives on trade topics near and dear to the steel industry.
AISI: US steel shipments slip in September
Domestic steel shipments decreased both on-year and month over month in September.
US construction spending moves up in September
Construction spending in the US picked up in September and maintained a notable year-over-year (y/y) rise.
Cliffs forecasts 2025 rebound after Q3’s weakest demand since Covid
The negative impact of high interest rates on consumer behavior, particularly in the automotive and housing sectors, was the primary driver of the demand weakness seen across the third quarter, according to Cleveland-Cliffs executives.
Northwest Pipe’s Q3 profits soar, sees strong end to ’24
Northwest Pipe’s third-quarter earnings jumped over 76% on-year as the company expects a strong finish to 2024.
Gerdau closes on Dales Recycling buy
Gerdau Long Steel North America completed its previously announced acquisition of Dales Recycling Partnership, a Tennessee-based operator and processor of ferrous and nonferrous scrap, on Nov. 1.
Featured
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 | 640 | 680 | 720 |
2 | CR | 900 | 930 | 960 |
5 | GI | 820 | 865 | 910 |
6 | AZ | 840 | 885 | 930 |
7 | PL | 840 | 880 | 920 |