Steel Prices
SMU annual price review
Written by Michael Cowden
May 6, 2025
We’re conducting our annual price review and want to hear from you!
Please take a moment to complete our short survey and share your views on how our prices, methodologies, and definitions can better support your work.
Your feedback plays a key role in how we continue to serve you and the wider steel market.
Share your views by May 26, 2025.
Take our survey
If you have any questions, please reach out to us at info@steelmarketupdate.com.
Michael Cowden
Read more from Michael CowdenLatest in Steel Prices
Gap between US HR prices, imports narrows
SMU’s average price for domestic hot-rolled (HR) coil was $800 per short ton (st) this week, up $5/st week on week (w/w). In offshore markets last week, prices were varied.
Busheling and shredded tags drop, widening HRC vs. prime scrap spread
US scrap prices fell on busheling and shredded in October, while HMS remained flat, market sources told SMU.
Thin demand keeps plate prices hovering at lowest levels since February
Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.
SMU Price Ranges: HR crawls back to $800/ton
SMU’s HR price stands at $800/st on average, up $5/st from last week. The modest gain came as the low end of our range firmed, and despite the high end of our range declining slightly.
SMU successfully completes IOSCO review
SMU has successfully completed an external review of all our prices. The review has concluded that they algin with principles set by the International Organization of Securities Commissions (IOSCO).