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    Analysis

    November 25, 2025

    Final Thoughts

    Written by Michael Cowden

    You might be looking forward to some Black Friday deals. But I wouldn’t expect many, at least when it comes to flat-rolled steel.

    Just take a look at some of the articles and data in today’s issue. Most respondents to our latest survey said that mills are not willing to negotiate lower prices for spot orders of hot-rolled (HR) coil or cold-rolled (CR) coil. Yes, you can still find deals on galvanized product. But they’re not as easy to come by as they were just two weeks ago.

    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.

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