Steel Prices

U.S. Steel increases sheet prices by at least $50/ton

February 19, 2025

U.S. Steel has increased prices for flat-rolled steel by at least $50 per short ton (st), according to market participants.

The Pittsburgh-based steelmaker now seeks a minimum of $850/st for hot-rolled (HR) coil. And it seeks at least $1,050/st for cold-rolled and coated base prices, they said.

Recall that U.S. Steel, in late January, sought $800/st for HR and $1,000/st for tandem products.

Nucor’s list price for HR, meanwhile, is at $820/st.

SMU’s price for HR coil stands at $815/st on average, up $55/st from last week and up $140/st from the beginning of the year, according to our pricing tool.

The price gains are widely expected to continue. That’s because of higher scrap costs, the impending application of stricter Section 232 tariffs on imported steel on March 12, and a resulting surge in order activity among steel buyers.

Also, a preliminary analysis of SMU’s steel survey data indicates that mills’ willingness to negotiate lower prices has plunged over the last two weeks.

We previewed some of that data on our Community Chat with CRU’s Josh Spoores on Wednesday. Final survey results will be released to our premium members on Friday.

Editor’s note: If you would like to upgrade from a premium to an executive subscription, please contact SMU Senior Sales Executive Luis Corona at luis.corona@crugroup.com.

Michael Cowden

Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.