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.
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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.
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Latest news
Final Thoughts
Cracks have formed in what has been presented as the Biden administration’s united front against Nippon Steel’s play for U.S. Steel. A report from the Financial Times said parts of the administration are at odds on the deal.
Apparent steel supply remained near two-year low in October
Referred to as ‘apparent steel supply’, we calculate this volume by combining domestic steel mill shipments with finished US steel imports and deducting total US steel exports.
Steel exports slip to 10-month low in October
The volume of steel exported from the country declined in October for the second-consecutive month, following a one-year high in August.
SMU Community Chat: St. Germain on a rosier 2025 outlook – if conditions are right
“There’s no sugar coating it – 2024 has been a challenging year,” the economist for ITR said.
Stirrings of life in scrap export market?
Last week, the export community in the Atlantic Basin was licking its wounds over a Northern European sale at a two-year low of $325 per gross ton (gt) for HMS 80/20 to Turkey.
Scrap prices slide in December, lift coming in January?
Ferrous scrap prices have finished 2024 down, but there is hope for a bump in January, scrap sources said.
Solar power to supply Hybar’s Arkansas rebar mill
Green & Clean Power will supply electricity to Hybar’s mill that is due to begin operations next summer.
Steel market chatter this week
On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.
SMU Community Chat replay now available
Written by David Schollaert November 13, 2024 Share on LinkedIn 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 […]
US HR tags slip, premium over landed imports narrows
Hot-rolled (HR) coil prices ticked back down in the US this week, while tags in offshore markets were mostly up. Thus, the price premium between stateside hot band and imports on a landed basis tightened slightly.
Final Thoughts
It’s been another week of torrid speculation when it comes Trump and tariffs. And another week of mostly flat price movement when it comes to steel sheet and plate.
As far as Trump and tariffs go, I think I might have lost track. We’ve potentially got 10% blanket tariffs on imports from China, 25% tariffs on imports from Canada and Mexico, 100% tariffs on the BRICs, and 200% on Caterpillar.
Canada might be the 51st state. Mexico could be the 52nd state. But all can be resolved if you stop by Mar-a-Lago and kiss the ring?
SMU price ranges: Steady as she goes
Steel prices have remained relatively stable in recent weeks, though they have generally trended downward since October.
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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 | 650 | 675 | 700 |
| 2 | CR | 860 | 890 | 920 |
| 5 | GI | 850 | 875 | 900 |
| 6 | AZ | 850 | 875 | 900 |
| 7 | PL | 840 | 865 | 890 |
Flat-Rolled Steel Prices
Steel Pricing Momentum
Flat Rolled Lead Times
Steel Buyers’ Sentiment
Mill Spot Price Negotiations
