SMU Price Ranges & Indices: Hot Rolled Surges Past $1,400

The headline price for hot rolled steel crested $1,400 per ton this week, according to Steel Market Update’s latest check of the market, surpassing a mark that few buyers ever expected to see in their careers. SMU pegs the current average hot rolled price at $1,410 per ton, but sources report offers as high as $1,450 or more as service centers and OEMs try to outbid each other for the few spot tons that are available in an incredibly tight market. Overall, flat rolled prices are up by $20-50 per ton over last week.

The same can be said for plate, which is now selling for around $1,200 per ton, far above the previous high-water mark last recorded by SMU of $1,010 in early 2019. Sources tell SMU that the mills might announce another $60 per ton increase on plate before the end of April when they open up the June order book. With little sign that supplies can possibly catch up with the surging demand anytime soon – even with the many tons of imports already on their way to the United States – SMU’s Price Momentum Indicators continue to point toward higher prices over the next 30-60 days.

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.