March 20, 2025
March Market Minute 2025
The Texas Manufacturing Outlook Survey shows a contraction in factory activity, with key indicators like production and new orders declining. This reflects the broader challenges faced by the sector due to higher input costs and economic uncertainty
Steel Prices on the Rise
Steel pricing trends saw mixed movements for the week of March 17. Hot-rolled coil prices edged down slightly by $2/ton to $947/ton, while cold-rolled coil gained $11/ton to reach $1,162/ton, indicating steady demand for value-added products.
Coated steel also moved higher, rising $7/ton to $1,203/ton, with base coated (excluding zinc) at $1,118/ton.
The most notable shift was in the plate market, which climbed $25/ton to $1,130/ton, reflecting firming demand and stable mill order books.
A Temporary Decline in Midwest Premiums?
As of March 20, the Midwest Premium stood at $0.37—higher than in recent months but down from its 12-month peak of $0.41, reached in early March.
It briefly spiked to $0.43 before pulling back, with some attributing the decline to an influx of material arriving ahead of potential tariffs. Concerns remain that once this supply is depleted, the Midwest Premium could climb again.
Stainless Surcharges Remain Stable
The anticipation is that stainless steel surcharges will rise slightly in April. Current projections are that 304 surcharges could reach $0.82, up from $0.80 in March, while 316 surcharges could reach $1.34, up from $1.32 in March.
Utilization rates at stainless mills are currently the mid-80s, and it will be worth watching the rate at which that rate increases in the second half of the year and what that could mean for meeting demand.
Market conditions may be tightening supply, but at SteelNow, we find the metal you need—fast.
With a network of 60+ suppliers, we don’t just check stock—we track it down and get it to you without the delays. We keep you moving with:
Rapid quotes so you can make decisions faster
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