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Keeping a finger on the pulse of the flat-rolled steel market with the latest steel news, prices, and industry updates
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Pricing
Steel Market Update produces weekly price assessments, news, and analysis of market trends affecting prices and sentiment on the US steel market.
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Latest news

Final Thoughts
A look at how SMU survey respondents are reacting to President Trump’s recent actions on tariffs.

HRC and scrap futures: Markets pop on hot steel and tariff headlines
It’s been an event-filled month in US ferrous derivatives markets since my last column for SMU. There’s been no shortage of writings and musing about the ongoing steel and aluminum tariffs proposed by the Trump administration. And steel and scrap futures markets have responded accordingly.
CME HRC futures prices have risen, and the curve has firmed. The February 2025 HRC futures contract, now in the pricing period, has added $47 per short ton (st) since its contact lows on Jan. 20 to settle at $767/st today.

Russel Metals posts solid quarter, doesn’t expect direct impact from tariffs
Russel Metals said on Thursday that it doesn’t expect to be directly impacted by US tariffs on Canadian steel. The Mississauga, Ontario-based distributor made the comments in its quarterly earnings report on Thursday. The company doesn’t export significant volumes to the US, it said, and thus doesn’t expect to be directly impacted. However, “The primary […]

US HR prices surge ahead of offshore tags
Hot-rolled (HR) coil prices rose further in the US this week, while tags abroad saw minor gains. The result: the margin US hot band holds over imports on a landed basis increased.

White House announces plan for reciprocal tariffs
President Donald J. Trump signed a Presidential Memorandum announcing the “Fair and Reciprocal Plan” for trade on Thursday. This would eventually see the levying of reciprocal tariffs on trading partners after a trade analysis for each country is conducted.

Ryerson, Zekelman, and Olympic become AISI members
“The collaboration with these three companies will enhance AISI’s already significant engagement with members of Congress and the administration,” the group’s CEO said.

Great Lakes iron ore trade tumbles in January
Iron ore shipments on the Great Lakes saw a sharp decline in January 2025, according to the Lake Carriers’ Association (LCA).

Manufacturers brace for higher costs with tariffs in play
Automakers, construction, manufacturers raise concerns

Unions in the US and Canada decry Trump tariffs on Canadian steel
Unions members on both sides of the US-Canada border are speaking out against President Trump’s tariffs on Canadian steel. They say the tariffs threaten to disrupt supply chains and subvert decades of economic cooperation.
The United Steelworkers (USW) has more than 850,000 total members in North America, with 225,000 in Canada.

Wittbecker on Aluminum: Canada’s options to combat US tariffs
The problem is that the situation in Washington is so fluid that no one really knows what to expect

Headwinds haunt ferrous scrap market
The ferrous scrap market in the US and Canada is trying to find its way through difficulties that could well determine its direction over the next several months.

Steel groups from Canada, Mexico, Europe call for tariff retaliation
While American steelmakers welcome the revival of the Section 232 tariffs on steel and aluminum imports, other nations’ steel industries are calling for retaliation against President Trump’s unilateral action of upping the levies on trading allies and removing all product exemptions.
Featured
Pricing
Interactive Pricing Tool
Chart steel and scrap prices against key indicators with our Interactive Pricing Tool.
wdt_ID | Product | Low | Avg | High |
---|---|---|---|---|
1 | HR | 720 | 760 | 800 |
2 | CR | 900 | 950 | 1,000 |
5 | GI | 890 | 925 | 960 |
6 | AZ | 900 | 935 | 970 |
7 | PL | 920 | 970 | 1,020 |
Flat-Rolled Steel Prices

Steel Pricing Momentum
Flat Rolled Lead Times
Steel Buyers’ Sentiment
Mill Spot Price Negotiations


