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
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.
Events and Training
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
Final Thoughts
The market breathlessly awaits the arrival of President Trump’s “Liberation Day.”
SMU price ranges: Tags mixed as market seeks tariff clarity ahead of ‘Liberation Day’
Sheet and plate prices were mixed on Tuesday as the market took a wait-and-see approach to the Trump administration’s “Liberation Day” tariffs.
US pig iron tags hold despite potential scrap price drop
The price of pig iron for the US market remains firm despite a potential drop in domestic ferrous scrap prices going into April.
SMU’s March at a glance
SMU’s Monthly Review provides a summary of our key steel market metrics for the previous month, with the latest data updated through March 31.
ISM: Manufacturing expansion loses steam after two months of growth
US manufacturing activity slowed in March after two straight months of expansion, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
AISI: Raw steel production jumps to 6-month high
Raw steel mill output from US mills rebounded last week, according to the American Iron and Steel Institute (AISI). Production is now at the highest weekly rate recorded so far this year.
Olympic opens new Houston facility for Action Stainless unit
Olympic Steel has opened a new facility in Houston to support its Action Stainless business.
Chicago Business Barometer rose to 16-month high in March
The Chicago Business Barometer increased for the third-consecutive month in March. Despite this, it still reflects contracting business conditions, as it has since December 2023.
Nucor keeps HRC price unchanged
Nucor paused its weekly hot-rolled (HR) coil price this week, keeping it flat for the first time since Jan. 21. This comes after a nine-week rally that saw the company increase prices by double-digits for eight of those weeks.
Final Thoughts
I’m not sure what I can write today that won’t be old news after April 2. The Trump administration has dubbed Wednesday “Liberation Day.” Since it’s mostly about tariffs, let’s just call it “Tariff Day.” Or maybe we should call it “Tariff Week” – since tariffs typically dominate the news cycle in the first week […]
Wittbecker: The United Arab Emirates’ Emirates Global Aluminum US smelter project
The United Arab Emirates’ Emirates (UAE) Emirates Global Aluminum (EGA) announced plans to spend $1.4 trillion dollars in the US over the next 10 years, including a greenfield primary aluminum smelter. Is this real or another soundbite?
Price on Trade: Auto tariffs, auto parts, and Hyundai – a world of rapid changes
Trump’s new auto tariffs will apply to passenger vehicles (including sedans, sport utility vehicles, crossover utility vehicles, minivans, and cargo vans), light trucks, and certain automobile parts (including engines and engine parts, transmissions and powertrain parts, and electrical components).
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 | 860 | 915 | 970 |
| 2 | CR | 1,120 | 1,160 | 1,200 |
| 5 | GI | 1,060 | 1,130 | 1,200 |
| 6 | AZ | 1,120 | 1,160 | 1,200 |
| 7 | PL | 1,140 | 1,210 | 1,280 |
Flat-Rolled Steel Prices
Steel Pricing Momentum
Flat Rolled Lead Times
Steel Buyers’ Sentiment
Mill Spot Price Negotiations
