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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Maximize your reach to your target market through an advertising partnership with Steel Market Update. Advertising with Steel Market Update ensures optimal visibility, allowing you to effectively convey your unique message to companies involved in flat rolled steel products and markets.
Latest news
Steel industry faces knock-on effects of potential auto chip shortage
US automakers could face production shutdowns in November because of potential supply disruptions at Dutch chipmaker Nexperia. Even a temporary shutdown, as carmakers scramble to procure chips, threatens to drive steel demand lower. Alliance for Automotive Innovation CEO John Bozzella underscored the severity of the situation. “If the shipment of automotive chips doesn’t resume — […]
Price on Trade: The foolishness of free trade with controlled economies
It was only a matter of time before a shutdown happened. And, no, we aren’t talking about the federal government’s lapse in appropriations. On Oct. 9, Beijing announced a series of restrictions that will effectively shut down exports of rare earth elements, magnets, and certain downstream products vital to advanced manufacturing.
Trump pulls plug on trade talks with Canada after anti-tariff Reagan ad
US President Donald Trump took to social media late Thursday night to announce he was canceling trade talks with Canada.
Pig iron market quiet as US mills aim to outwait Brazilian suppliers
US buyers want to drop pig iron prices to levels commensurate with the decline in prime scrap in their domestic market. Prime price shed $20 per gross ton (gt) in September and another $20/gt in October.
BREAKING NEWS: NLMK USA up $50/ton on HR and CR, up $100/ton on coated
NLMK USA plans to increase prices for hot-rolled and cold-rolled coil by at least $50 per short ton (st).
The move is effective immediately for all spot orders, the steelmaker said in a letter to customers on Friday.
Loss-making GrafTech shifts volumes to US amid global price pressure
GrafTech reported higher shipments and sales in the third quarter, but continued to lose money. It attributed the continued losses to persistent pricing pressure and global trade uncertainty.
US and Canadian rig counts inch higher
Baker Hughes reported higher oil and gas drilling activity this week in both the US and Canada.
CRU: JSW Steel powers to four-fold profit rise
India’s JSW Steel reported a 307% year-on-year (y/y) jump in net profit to INR16.5 bn ($188 million, €161 million) in fiscal Q2.
Wheeling-Nippon Steel raises Galvalume coating extras
The steelmaker released updated extras to customers on Oct. 15, marking the second adjustment in just six weeks following their early September revision
AMU: Ford confirms Novelis Oswego hot mill restart expected by early December
Ford executives said the automaker expects aluminum supplier Novelis to restart its fire-damaged Oswego, NY hot mill by late November or early December.
HR Futures: Consequences of a tariff trap
As another month goes by and another futures columnist starts by saying “not much to see here,” I understand that a reader might flip their brain to skim mode.
Final Thoughts
Below are some other issues that should be on your radar. Because while prices have been steady, a lot is going on when it comes to news that could impact them.
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 | 760 | 805 | 850 |
| 2 | CR | 940 | 995 | 1,050 |
| 5 | GI | 860 | 925 | 990 |
| 6 | AZ | 920 | 960 | 1,000 |
| 7 | PL | 950 | 990 | 1,030 |
Flat-Rolled Steel Prices
Steel Pricing Momentum
Flat Rolled Lead Times
Steel Buyers’ Sentiment
Mill Spot Price Negotiations
