Raw Materials Prices Rise Higher through April

Following record price increases in March, prices for four of the seven of the steelmaking raw materials tracked in this SMU analysis increased over the last 30 days. Through late April, pig iron prices increased 18% compared to one month prior, zinc prices rose 15%, busheling scrap prices increased 11%, and iron ore prices were up 3%. In that same time frame, shredded scrap prices were unchanged, while aluminum prices declined 6% and coking coal prices fell by 20%.

Table 1 summarizes the price changes of the seven materials considered in this analysis. It reports the percentage change from one month prior, three months prior, and one year prior for each item.