SMU's April at a Glance

Steel prices were relatively steady in April, following increases in March. Hot rolled prices were at $1,460 per ton ($73 per cwt) the first week of April, the highest level seen since January 2022. Prices then bounced around within a $30 per ton range for the remainder of the month, with the SMU index averaging $1,450 per ton as of last Tuesday. The SMU Price Momentum Indicator was adjusted to Neutral for all steel products on April 12 and remains at that position today. Recall that the Momentum Indicator was previously adjusted from Neutral to Higher in early March.

Raw material prices remained historically high in April, with scrap prices down $20 to up $75 per ton from March. Click here to view and compare prices using 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.