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
AISI outlines key issues for steel to Trump admin
The American Iron and Steel Institute (AISI) has reached out to the Trump administration, as well as some members of Congress, to present a blueprint of issues that are top of mind for steel producers. “2025 presents an opportunity for the new administration and Congress to take a holistic look at the key issues impacting […]
Architecture firm billings fell in December on market uncertainty
Architecture firms reported a sharp reduction in billings in December, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.
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 […]
Ferrous scrap tags seen up in February despite weather, other woes
The US scrap market for February has a lot of moving parts that need to mesh before an accurate picture can emerge. However, the general opinion for next month is an increase of at least $20 per gross ton (gt), according to sources contacted by SMU. Among the issues are winter weather decreasing scrap flows, […]
SMU price ranges: Market in holding pattern as clarity sought on Trump tariffs
Sheet and plate prices remained in a holding pattern this week as the market awaited more specifics on potential Trump administration tariffs.
Final Thoughts
Sometimes new presidential administrations hit the ground running. No time for change like the present. And sometimes new administrations blast off on a SpaceX rocket bound for Mars. There’s a big universe, and we’ve got a lot of flags to plant. Such seems to be the case with the new Trump administration.
AISI: Raw steel production edges down
Weekly raw steel mill production levels have fluctuated within a relatively narrow range across the last four months, according to data released by the American Iron and Steel Institute (AISI).
Fed indicators show continued stability in manufacturing
Recent Federal Reserve data indicates that the US manufacturing sector remains healthy and stable. The strength of the manufacturing economy has a direct relationship to the health of the steel industry.
Algoma to shut down line in Ontario ahead of EAF start
The 106” Mill was part of Algoma’s plate and strip combination facility.
Nippon trial vs. US government to begin early next month: Report
Nippon Steel’s litigation against the US government is set to begin in early February, according to a report by Japan’s Kyodo News Agency. Nippon will file its opening brief on Feb. 3. And both parties will conclude their claims by March 17 in the US Court of Appeals for the District of Columbia Circuit, Kyodo […]
Nucor’s weekly HR spot price unchanged, again
Nucor’s consumer spot price (CSP) for hot-rolled (HR) coil remains unchanged for another week – now on an 11-week streak. Nucor’s HR coil CSP, still at $750 per short ton (st), has been at that level since Nov. 12. The spot price for HR from Nucor’s joint-venture subsidiary California Steel Industries (CSI) is also flat […]
Trump threatens 25% tariffs on Canada and Mexico as soon as Feb. 1
President Donald Trump said on Monday evening that he was considering placing tariffs of 25% on imports from Canada and Mexico. The president said the tariffs could go into effect as soon as Feb. 1. President Trump threatened the tariffs as he signed a raft of executive orders in front of reporters in the Oval […]
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 | 660 | 685 | 710 |
| 2 | CR | 870 | 905 | 940 |
| 5 | GI | 820 | 860 | 900 |
| 6 | AZ | 830 | 870 | 910 |
| 7 | PL | 800 | 845 | 890 |
Flat-Rolled Steel Prices
Steel Pricing Momentum
Flat Rolled Lead Times
Steel Buyers’ Sentiment
Mill Spot Price Negotiations
