SMU's June at a Glance

Steel prices continued to ease each week throughout June, following declines in May as well. Hot rolled prices were $1,190 per ton ($59.50 per cwt) the first week of June. Prices then slipped between $45 and $90 each of the following weeks, with the SMU index averaging $995 per ton as of last Tuesday. (This was the first time our HR index fell under $1,000 per ton since the last week of December 2020.) The SMU Price Momentum Indicator for all products remains at Lower since our May adjustments, meaning we expect prices to decline over the next 30 days.

Raw material prices declined further from April’s historical highs. Scrap prices fell $50-65 per ton from May to June are now at levels last seen in late 2021 and early 2022. 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.