Steel (USA) prices averaged USD 707 per metric ton in September, up 3.9% from August. On 30 September, the commodity traded at USD 735 per metric ton, up 2.9% from 30 August.
Prices extended their gains in September, when the Federal Reserve kicked off its monetary policy easing cycle, delivering a larger-than-expect cut of 50 basis points. Nonetheless, PMI data revealed that the U.S. manufacturing sector weakened further in September, which likely limited price gains.
This chart displays Steel (USA) (US$/mt) from 2022 to 2024.
Hot Rolled Coil Steel USA (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Hot Rolled Coil Steel USA | 890 | 1,053 | 794 | 903 | 941 | 786 | 684 | - |