SMU Price Ranges & Indices: Mills Pushing Prices Higher

Last week U.S. Steel and ArcelorMittal USA announced a third round of price increases. This week Nucor and Algoma followed suit. Not every mill has followed their lead, however. As a result, there are still some holes out there. Where, why and from whom are the questions of the day, which we can’t answer at the moment.

We captured a mixed bag when it came to benchmark hot rolled prices this week. Thus, we posted a wider than normal spread with a net result of no change in our HRC average despite the price increase announcements. However, the bulk of the data points collected had HRC closer to $540-550 per ton than the wide range we are reporting. SMU does not calculate a weighted average, taking into account the volume of steel ordered at a given price, therefore we feel readers are best served by SMU being conservative and reporting a wider spread when the precise figure is unclear.

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.