SMU's March At-a-Glance

For the seventh consecutive month, steel prices rose throughout March, fueled by a continuation of strong demand and limited supply. Hot rolled steel prices averaged $1,300 per ton by the middle of the month, far exceeding any historical price record, and reached $1,330 by the last week of March. The SMU Price Momentum Indicator has remained unchanged since the August 2020 adjustment to Higher, indicating prices are expected to rise further in the short term.

March scrap prices rose 9-14% over February, with busheling up $70 per ton, shred up $40 and HMS up $35. Zinc prices were relatively flat throughout the month, while aluminum prices increased 3% and reached a multi-year high in the fourth week of March.

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.