Where the steel community comes together
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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What we do
Pricing
Steel Market Update produces weekly price assessments, news, and analysis of market trends affecting prices and sentiment on the US steel market.
Trends and Analysis
Sentiment, Inventories, Prices, and Key Market Indicators – everything you need to quickly adapt in the dynamic steel industry.
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We are proud to be an industry leader with our nationally recognized trainings and events, like the Steel Summit Conference and Tampa Steel Conference. We offer in-person and virtual workshops in our Steel Industry Training Program across the country facilitated by industry experts.
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Latest news
SMU Community Chat replay now available
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]
Nucor reports IT systems breach
Nucor said it temporarily and proactively halted some production operations at various locations.
Final Thoughts
The Tariff Town amusement park ride shows no signs of slowing down.
SMU price ranges: Indices drop across the board
All of SMU’s sheet and plate steel price indices declined this week, easing by $30-40 per short ton (st) on average since early May. Prices continue to slide lower as buyers remain on the sidelines, wary of holding much excess inventory and expecting further declines.
Auto growth to slow amid tariff uncertainty
CRU Group revised down its forecast for North American auto production by about 800,000 to 14.7 million this year.
HRC vs. prime spread narrows further in May
The price spread between hot-rolled coil (HRC) and prime scrap narrowed again in May, according to SMU’s most recent pricing data.
Supply chain issue temporarily halts Ford assembly plant
Ford Motor Co. started a planned outage early at its Chicago assembly plant due to a supply chain issue.
Miller on Pig Iron: Buyers eye lower prices
Since the US ferrous scrap settlements for May have been finalized, steelmakers are turning their attention to continued pig iron flows with the wind behind their backs.
Vagnini: Traxys teams up with Pure Aluminum and Consortium Metals
This is the kind of partnership that stands out. A global trading powerhouse, a sharp and growing recycled metals producer, and a seasoned commercial team are coming together to reshape how recycled aluminum is processed and delivered to customers across the United States.
AISI: US steel mill production keeps increasing
Domestic mill output continues to grow, with raw steel production rising last week to the highest rate recorded since last September, according to the American Iron and Steel Institute (AISI).
Apparent steel supply bounced back in March
The volume of finished steel entering the US market rebounded in March, according to our analysis of US Department of Commerce and American Iron and Steel Institute (AISI) data.
Pa. state senator eyes legislation to incentivize steelmaking
A Pennsylvania state senator plans to submit legislation to incentivize steelmaking in the state.
Featured
Steel 101 Workshop
Our instructors will present the structure of the steel industry and the steelmaking process. We’ll start with raw materials and continue downstream to hot rolling, cold rolling, and coating. Whether you are new to the industry or are experienced and changing roles, our experts will help you gain the knowledge to succeed!
SMU Steel Summit
The SMU Steel Summit has gone from strength to strength over the last few years, growing from 434 attendees in 2016 to nearly 1500 in 2023. Representing more than 500 companies from the North American Steel Market, this is the event to learn what the future holds and to network and do business. Mark your calendars for Aug. 26-28, 2024.
Survey Results
Discover valuable insights into steel prices with SMU’s market survey. Our timely analysis of lead times, mill negotiations, inventory trends, and market sentiment empowers informed decision-making in a dynamic industry. Stay ahead of the curve and maximize your opportunities.
Community
Join us for our Community Chat Webinars! Every other Wednesday, we give our community the opportunity to hear from experts discussing topics important to the steel community we serve.
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 | 790 | 845 | 900 |
| 2 | CR | 990 | 1,045 | 1,100 |
| 5 | GI | 970 | 1,020 | 1,070 |
| 6 | AZ | 990 | 1,045 | 1,100 |
| 7 | PL | 1,000 | 1,135 | 1,270 |
Flat-Rolled Steel Prices
Steel Pricing Momentum
Flat Rolled Lead Times
Steel Buyers’ Sentiment
Mill Spot Price Negotiations
