SMU Price Ranges: Sheet slips despite tariff and Middle East shocks

Written by Brett Linton & Michael Cowden

Prices for steel sheet edged down this week despite Section 232 tariffs remaining at 50% and a US strike on nuclear facilities in Iran over the weekend.

Case in point: SMU’s hot-rolled (HR) coil price stands at $875 per short ton (st) on average. That’s down $5/st from last week and marks the first decline since President Trump announced plans in late May to double S232 tariffs.

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.

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.