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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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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

Trump to announce 25% tariffs on all steel, aluminum imports on Monday
President Donald Trump said he would announce 25% tariffs on all steel and aluminum imported to the US, according to Bloomberg.
Trump said he would make an announcement about the matter on Monday. It was not clear when the tariffs might take effect.

Final Thoughts
An exciting first look at the results from SMU’s first scrap survey.

Trump says Nippon will ‘invest heavily’ in USS rather than buy it
Nippon Steel has agreed to “invest heavily in U.S. Steel as opposed to own it,” President Donald Trump said on Friday during a press conference with Japanese Prime Minister Shigeru Ishiba.
U.S. Steel is “a very important company” and was once “the greatest company in the world”. Of potential foreign ownership of the Pittsburgh-based steelmaker, Trump said, “the concept, psychologically, not good.”

US steel imports inch up in December, surge in January
Following the one-year low recorded in November, steel imports rose by 3% in December to 2.14 million short tons (st) according to final US Commerce Department data. January could be the highest month for steel imports witnessed in nearly three years.

SMU scrap market survey results now available
SMU’s inaugural ferrous scrap market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past flat-rolled survey results are also available under that selection. If you need help accessing the survey results, or […]

Price: What another round on the tariff carousel means for US trade policy
The day-to-day bustle of these announcements should not obscure what they signal for other potential tariff measures in the near term and a revamped trade and economic policy in the long term.

Lockout ends, production restarts at Welded Tube of Canada
The company’s plants had been shut since just before Christmas when the company locked out union workers during negotiations.

Evraz increases plate prices again, up $40/ton
Evraz, SSAB Americas, and Nucor have all followed up on their initial price bumps at the opening of their March order books with a second round of increases.

Tampa Steel Conference: Service centers more upbeat about 2025
If 2021 and 2022 was the party, 2024 is the morning after, one panelist said.

SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members.

Tampa Steel Conference: Worthington CEO Geoff Gilmore talks trade and tariffs
“Personally, I find it very hard to believe that we would be in a trade war with Mexico and Canada for more than a few months at any given time. I don’t know how Mexico and Canada could survive that. That’s a recession for them. That’s a few points off GDP for us – my opinion.”

As GrafTech losses mount, it attempts to lift electrode pricing
Facing weak demand and an “unsustainably low” pricing environment, GrafTech International posted another quarterly loss to close out 2024.
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 | 690 | 725 | 760 |
2 | CR | 870 | 910 | 950 |
5 | GI | 840 | 875 | 910 |
6 | AZ | 840 | 905 | 970 |
7 | PL | 850 | 910 | 970 |
Flat-Rolled Steel Prices

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


