Hot Rolled Coil Premium over Busheling Scrap Comparison

According to the latest Steel Market Update data, the spread between hot rolled coil prices and prime scrap prices has changed course after reaching an 18-month low in March. The latest spread is in line with levels seen this time last year, and two times higher than pre-pandemic spreads.

The SMU hot rolled coil price average rose to $1,480 per net ton ($74.00 per cwt) on Tuesday, the highest price seen since January. Recall our HRC price average peaked last September at $1,955 per ton, gradually falling to a low of $1,000 per ton in early March, then rapidly rising following the Russia-Ukraine war.

Prime Scrap

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.

Brett Linton

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