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Pricing
Steel Market Update produces weekly price assessments, news, and analysis of market trends affecting prices and sentiment on the US steel market.
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Latest news
Final Thoughts
Getting back to the price increases I mentioned at the top of this article, to what extent are they aimed at raising prices and to what extent are they aimed at stopping the bleeding that was happening in the second half of May, before President Trump announced the 50% tariff?
SMU price ranges: Sheet and plate prices tick higher again
Steel prices inched higher again this week across most of the sheet and plate products tracked by SMU.
Industry cautiously optimistic despite lack of steel specifics in US-UK trade deal
Details of a new tariff-rate quota on US imports of British steel are lacking in the new US-UK trade deal.
Mexico shuts down steel importer amid trade talks
The Mexican government shut down two plants and warehouses operated by US-based LAU Industries.
US and Canada talk trade, market contemplates fate of S232 steel protections
Trade talks are progressing between the US and the market is contemplating the future of Section 232 tariffs.
HVAC equipment shipments ease in April following March rebound
After climbing to a seven-month high in March, heating and cooling equipment shipments edged lower in April, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). Shipments of water heaters, air conditioner/heat pumps, and warm-air furnaces all declined month over month (m/m) but remain strong relative to the past three years.
Ferrous scrap market outlook brightens
Ferrous scrap sentiment picks up.
Metal recycler SMI acquires two new Kansas locations
Scrap Management Industries (SMI) has purchased two recycling facilities in Kansas.
More appliances added to downstream S232 tariff list
The Trump administration has expanded the list of derivative steel products covered by the now 50% Section 232 tariff.
AISI: Raw steel production takes a breather after reaching 3-year high
Domestic mills continue to produce record volumes of steel, according to AISI’s latest figures.
Cliffs raises prices, seeks $950/ton for July spot HR
Cleveland-Cliffs plans to increase prices for hot-rolled (HR) coil to $950 per short ton (st) with the opening of its July spot order book. The Cleveland-based steelmaker said the price hike was effective immediately in a letter to customers dated Monday.
Manufacturing in New York state contracts again
However, companies are growing more optimistic about the future.
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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.
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Pricing
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Flat-Rolled Steel Prices
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