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.
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Latest news
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 […]
HRC vs. prime scrap spread narrows again in January
The price spread between hot-rolled coil (HRC) and prime scrap continued to narrow in January, according to SMU’s most recent pricing data. While SMU’s average HRC price edged down week over week (w/w), it rose compared to a month ago. The January price for busheling also increased from December. Our average HRC price as of […]
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.
Final Thoughts
It’s another week of big headlines and ho-hum pricing moves – which is to say the start of 2025 is looking a lot like the end of 2024.
Scrap has settled up $20 per gross ton (gt). Steel prices, however, were a soft sideways this week.
Chalk it up to uneven demand and abundant supply. And while we’re not aware of any major outages, some of you tell us that you’ve lost some shipping days here and there because of the recent cold snap.
SMU price ranges: Slow start to the year
Steel prices ticked lower this week for four of the five products SMU tracks, according to our latest canvass of the sheet and plate markets. Following last week’s bump, our hot rolled, cold rolled, galvanized, and plate indices all edged lower this week by $5-15 per short ton (st) on average. Galvalume was the only […]
Galvanized buyers see glimmers of optimism amidst the chaos
Reflecting on 2024 and looking ahead to the new year, galvanized steel buyers on this month’s HARDI call expressed a mix of cautious optimism with lingering uncertainties.
Export scrap market still faltering to start 2025
The export scrap markets continue to lose ground. Unlike the domestic markets in the US and Canada, which have shown some strength in January, there have been multiple sales by US East Coast (USEC) exporters at lower prices, even after the US markets prices settled. And February looks even stronger. There are several reasons for […]
Shipments of HVAC equipment slip through November
Monthly shipments of heating and cooling equipment decreased from October to November, according to the latest data released from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). November shipments fell 12% month on month (m/m) to 1.69 million units (Figure 1, left). This follows typical seasonal declines, as the monthly decrease from October to November has […]
Ferrous scrap tags increase ~$20/gt in January
US scrap tags rose for all the grades tracked by SMU in January in what was deemed a “restocking rally,” sources said.
The January market was up ~$20 per gross ton (gt) across the board. This did not include turnings, which were up $30/gt.
Cleveland-Cliffs CEO seeks ‘American solution’ for U.S. Steel
He said a new entity would operate under the U.S. Steel name and would retain its Pittsburgh headquarters.
Coated steel trade case update: Postponements and new allegations
The steel industry may have to wait even longer for the initial duty determinations in the pending coated steel unfair trade investigations.
AISI: Raw steel production ticks up
Raw steel mill production increased last week, according to the most recently released American Iron and Steel Institute (AISI) data.
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 | 650 | 685 | 720 |
| 2 | CR | 850 | 895 | 940 |
| 5 | GI | 820 | 860 | 900 |
| 6 | AZ | 830 | 870 | 910 |
| 7 | PL | 820 | 850 | 880 |
Flat-Rolled Steel Prices
Steel Pricing Momentum
Flat Rolled Lead Times
Steel Buyers’ Sentiment
Mill Spot Price Negotiations
