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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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Latest news
AISI: Raw steel output rises to 11-week high
Since sharply falling in September and October, weekly production has marginally trended higher for the past two months, but remains significantly low compared to levels recorded earlier this year
Ternium chief say Mexico tariffs ‘irrational’
Vedoya said the proposed tariffs are “an irrational measure that would harm both their own industry and ours.”
Slowing data center, warehouse planning drives decline in Dodge index
The Dodge Momentum Index (DMI) slid further in November as planning for data centers and warehouses continued to decline.
Nucor’s HR spot price unchanged for 5th week
Nucor’s weekly spot price for hot-rolled (HR) coil will remain at $750 per short ton (st) for a fifth week.
Final Thoughts
As my colleague Ethan Bernard noted in our most recent Final Thoughts, I don’t think many of us thought uncertainty would be mounting four weeks out from 2025. If anything, the general theme post-Steel Summit and into Q4 was that election night would be the turning point. And whatever had been keeping the steel market from building would finally get the jump-start it needed.
Price on Trade: Trump tariffs are no negotiating tool – and could come at lightning speed
We focused on trade actions the second Trump administration might take in a prior column. Since then, we have learned more about the individuals who will be leading these efforts.
Recent nominations reinforce the president-elect’s statements that tariffs will feature prominently in the second administration and that trade actions will be unveiled at lightning speed.
Leibowitz on Trade: More tariffs on steel, aluminum could cost consumers a lot
Transition to a new administration is always uncertain. This one is more uncertain than most.
Domestic CRC prices hold, import tags mixed
The price spread between US-produced cold-rolled (CR) coil and offshore products on a landed basis was flat in the week ended Dec. 6.
U.S. Steel says OCTG duty adjustment is too low
A newly adjusted anti-dumping duty on imports of oil country tubular goods (OCTG) from Argentina is too low, according to U.S. Steel. This past week, the Department of Commerce released the preliminary results of annual AD duty order reviews on OCTG from both Argentina and Mexico. It is reviewing imports during the one-year period that […]
Early December trading in ferrous scrap mart sees prices down
The US scrap market has begun forming for December shipment and prices seem to be sagging so far.
US rig count rises, Canada count falls
The US drill rig count increased by seven this week, while the Canadian count dropped by 11, according to the latest data from Baker Hughes.
Canada sees Chinese steel, ali imports falling ~50% on tariffs
The Canadian government estimates steel and aluminum imports from China will decrease by nearly 50% due to newly implemented tariffs.
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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 | 850 | 885 | 920 |
5 | GI | 830 | 865 | 900 |
6 | AZ | 860 | 880 | 900 |
7 | PL | 810 | 860 | 910 |