Steel (USA) Prices

Steel (USA) prices averaged USD 876 per metric ton in July, up 0.2% from June. On 31 July, the commodity traded at USD 842 per metric ton, down 4.3% from 30 June.

Prices were broadly stable over the past month despite June’s import tariff hike, as demand remained downbeat. In July, the manufacturing PMI fell into contraction for the first time this year. The steel market is currently pricing in a 30% tariff, instead of the current 50% rate, reflecting still-high inventories.