Steel Prices
U.S. Steel increases sheet prices by at least $50/ton
Written by Michael Cowden
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
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