• Skip to main content

    Market Data

    March 29, 2026

    Steelmaking raw material prices increase through March

    Written by Brett Linton

    Editor’s note: Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact Luis Corona at luis.corona@crugroup.com.

    Many of the steelmaking raw materials we track increased in price over the last month. Prices for iron ore, aluminum, pig iron, and shredded scrap have all risen in the last 30 days. Busheling scrap has held steady, and zinc and coking coal have declined. Collectively, prices rose 2% month over month (m/m). Seven of the eight products we track are more expensive than they were three months ago. That said, pig iron and ferrous scrap remain slightly less expensive than they were a year ago.

    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.

    Read more from Brett Linton

    Latest in Market Data

    Sheet and plate price gains accelerate as 2026 tons dry up

    Sheet and plate prices continue to push higher as mills charge a premium for what little spot tonnage remains for 2026, market participants said. SMU’s price assessment for hot-rolled (HR) coil now stands at $1,290 per short ton (st) on average, up $10/st week over week. HR price gains averaged $5/st w/w throughout July and August, with no changes in prices some weeks and gains of at most $15/st w/w. In September and October to date, in contrast, prices have increased every week—with the average gain at $11.25/st w/w and w/w gains as high as $20/st. Prices for cold-rolled and coated products continued to increase as well. SMU's price assessment for cold-rolled (CR) coil clocked in at...

    Drilling activity holds in the US, eases in Canada

    The latest tally of active drilling rigs held steady in the US and slowed in Canada this week, according to oil and gas rig count data published by Baker Hughes. The US rig count remained unchanged at 603 rigs this week, maintaining a 17-month high. Compared to this time last year, there are 55 more rigs in operation today. Canada’s count decreased by five to 217 rigs this week, slowing for the first time in four weeks. Still, activity is up compared to the same week of 2025, with 19 more rigs operating today.

    Fed Beige Book finds stronger steel, machinery demand but rising cost pressure

    Manufacturing activity improved in several Federal Reserve districts, but conditions remained mixed nationwide, according to the Fed’s Oct. 14 Beige Book report. Demand was strongest in steel, machinery, defense-related products, and data center infrastructure. Steel producers in the Cleveland District reported firm spot market demand. Data center, power-generation, defense, and aerospace projects supported orders. Long mill lead times kept customer inventories lean and prices high. Producers also reported higher orders from truck-trailer and light-vehicle manufacturers. International demand for hydrogen vehicle parts increased.