SMU's August at a Glance

Steel prices eased overall throughout August, following declines seen in the three previous months. Hot rolled prices were $805 per ton ($40.25 per cwt) the first week of August, falling to a low of $770 per ton in the middle of the month, and rising to $785 per ton as of last Tuesday. The SMU Price Momentum Indicator was adjusted from Lower to Neutral for sheet products on August 9th. Price Momentum on plate remains at Lower since our May adjustment.

Raw material prices were down overall, further declining from April’s historical highs. Scrap prices fell $15-70 per ton over July, with busheling and shredded prices within $10 per ton from each other. Sources expect scrap prices to hold steady and possibly increase in September. 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.