SMU's March at a Glance

Steel prices rose each week in March, and the increases were the first in six months. Hot rolled prices were down to $1,000 per ton ($50 per cwt) the first week of March, the lowest level seen since December 2020. Prices then surged $435 per ton throughout the month, with the SMU index averaging $1,435 per ton as of last Tuesday. The SMU Price Momentum Indicator for hot rolled steel was adjusted to Higher on March 8, with all other products following the next week. Recall that Momentum was previously adjusted from Lower to Neutral the last week of February.

Raw material prices surged in March, with scrap prices up $125-170 per ton from February. Click here to view and compare prices using our interactive pricing tool.

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.