SMU's October At-a-Glance

October saw a gradual decline in steel prices for the second consecutive month, following one full year of continuous price increases. Hot rolled steel prices decreased $45 per ton throughout the month, with the SMU index averaging $1,885 per ton ($94.25 per cwt) as of Tuesday, Oct. 26. The SMU Price Momentum Indicator for hot rolled steel was adjusted to Lower the week of Oct. 19, and remains at Neutral for all other products until the market establishes a clear direction.

October scrap prices were down $10-15 per ton from the month prior and have continued to fall from the historically high prices seen in July. Click here to view and compare prices within our interactive pricing tool.

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.