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
CRU: Pig iron prices stable to low in key markets amid soft demand
Market participants in both the US and Europe noted that most buyers are patiently waiting for prices to reduce as they have enough inventory at hand.
SMU price ranges: Indices drop across the board
All of SMU’s sheet and plate steel price indices declined this week, easing by $30-40 per short ton (st) on average since early May. Prices continue to slide lower as buyers remain on the sidelines, wary of holding much excess inventory and expecting further declines.
HRC vs. prime spread narrows further in May
The price spread between hot-rolled coil (HRC) and prime scrap narrowed again in May, according to SMU’s most recent pricing data.
Miller on Pig Iron: Buyers eye lower prices
Since the US ferrous scrap settlements for May have been finalized, steelmakers are turning their attention to continued pig iron flows with the wind behind their backs.
Nucor lowers HRC price to $900/ton
Nucor lowered its weekly spot price for hot-rolled (HR) coil for a second straight week, down $10 per short ton (st), after keeping it in a holding pattern for most of April.