Majority of Steelmaking Raw Material Prices Decline Through August

Prices for five of the seven steelmaking raw materials tracked in this SMU analysis decreased over the last 30 days, further declining from the record levels seen in March and April. Through the latest data available as of August 31, pig iron prices decreased 38% in the last month, busheling scrap prices fell 14%, aluminum prices declined 4%, shredded scrap prices decreased 3%, and iron ore prices eased 2%.

At that same time, coking coal prices rebounded by 23% and zinc prices increased by 6%. Compared to levels three months prior, all raw material prices have declined, with multiple products down by 25% or more.

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.