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
Final Thoughts
Nucor said it is seeking $740 per short ton (st) for hot-rolled (HR) coil this week, up $20/st from last week. USS, meanwhile, is shooting for up $30/st for sheet products in general. (USS did not announce a target price for HR.)
SMU price ranges: No overall increases in sheet or plate this week
SMU price indices declined again this week for all products other than hot-rolled sheet. Our indices have trended lower across October, falling as much as $75 per short ton (st) in that time.
Ryerson swings to Q3 loss amid difficult business climate
Ryerson swung to a loss in Q3 as it navigated a “contractionary” environment in industrial metals and manufacturing.
Primetals secures long-term maintenance deals in the Americas
Primetals Technologies renewed two long-term maintenance service contracts with steel producers in the Americas.
Steel imports slip 10% from August to September
September marked the lowest month for steel imports so far this year, according to preliminary Census data released by the Commerce Department.
BlueScope lowers profit predictions due to global steel slowdown
Australia’s BlueScope Steel has lowered its earnings guidance due to challenging conditions in the global steel industry.
Trump reiterates opposition to USS sale to foreign firm
Former President Donald Trump repeated his disapproval of U.S. Steel’s sale to a foreign owner in a campaign speech on Sunday.
AISI: Raw steel production recovers to five-week high
Domestic raw steel production recovered for the third consecutive week last week, according to the latest figures released from the American Iron and Steel Institute (AISI). While up, output remains near one of the lowest rates recorded across 2024.
Lindqvist gives up board position as he departs SSAB
After stepping down as president and CEO of SSAB, Martin Lindqvist announced he’ll also be leaving his position on SSAB’s board of directors.
SMU Spotlight: CRU’s Paul Butterworth talks EAFs, CBAM, and decarbonization
Last month I traveled to Sweden to the CRU Steel Decarbonisation Summit in Stockholm. I wanted to see if the European take on decarbonization was broadly different from what we are talking about here in the US.
Nucor increases CSP, aims for $740/ton HRC
Nucor has raised its weekly consumer spot price (CSP) for hot-rolled (HR) coil by $20 per short ton (st), now at $740/st as of Monday, Oct. 28.
Final Thoughts
We all know the American news cycle moves pretty fast. Viral today, cached tomorrow. So it is with the US presidential election on Tuesday, Nov. 5. People have election fatigue. They’ve moved on to other things like planning holiday parties, debating Super Bowl hopefuls, or even starting to look forward to our Tampa Steel Conference in February.
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 | 640 | 685 | 730 |
| 2 | CR | 880 | 915 | 950 |
| 5 | GI | 840 | 870 | 900 |
| 6 | AZ | 860 | 905 | 950 |
| 7 | PL | 840 | 895 | 950 |
Flat-Rolled Steel Prices
Steel Pricing Momentum
Flat Rolled Lead Times
Steel Buyers’ Sentiment
Mill Spot Price Negotiations
