SMU's February At-a-Glance

Steel prices continued their upwards climb in the month of February, fueled by strong demand and tight supply. Hot rolled steel prices surpassed $1,200 per ton in the third week of the month, reaching levels never before seen. Steel Market Update’s hot rolled price index reached $1,210 per ton by the end of February, up $60 per ton from the beginning of the month and up $200 from the beginning of the year. The SMU Pricing Momentum Indicator has remained unchanged since the August 2020 adjustment to Higher, indicating prices are expected to rise further in the short term.

February busheling scrap prices were stable, while HMS and shredded scrap prices declined by $75 per ton compared to January. Both zinc and aluminum prices rose throughout the month, increasing 10% and 11%, respectively, from Feb. 1 to Feb. 28.

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.