Each week, Majestic Steel USA [majesticsteel.com], a steel service center that distributes prime, flat-rolled galvanized steel sheets and coils to industries across the United States, compiles the Core Report. The Report is “an in-depth look at key indicators and trends driving the steel market. Market volatility demands your attention about what’s driving prices, when and why.”
Majestic Steel has granted Rollforming Magazine permission to publish information excerpted from the Report for its readers.
Scrap Pricing
According to Prime Scrap Price, Market Conversations for the week ending April 11: After climbing $95/gt through the first three months of the year, prime scrap pricing slipped in April. Prime scrap settled at $455/gt, down $20/gt from March, but up $35/gt from April last year. .
Uncertainty around demand, easing scrap flows due to milder weather, and weaker export activity all played a role in impacting pricing. Despite the pull back in April, the increase in prices throughout Q1 will continue to pressure mill prodution costs well into Q2. Shredded scrap prices saw a much sharper decline, sliding $40/gt to $415/gt.
Domestic Steel Production
According to the American Iron & Steel Institute, Weekly Domestic Steel Production report dated April 25, domestic raw steel production dipped slightly after climbing two out of the previous three weeks. U.S. mills produced an estimated 1,682k tons at a 74.9% utilization rate; this is down from 1,689k tons and a 75.2% rate previously.
This is down slightly after hitting the highest output since the last week of March. Production dropped in three of the five regions, with the largest decrease (in tons) coming from the Great Lakes region. Production from the Great Lakes region spiked from 549k tons to 523k tons.
Year-to-date production is still down 2.8% compared to the same timeframe from last year.
Global Steel Production
According to the WorldSteel, Global Steel Production report for March 2025, global steel production is now up for the third straight month.
Global steel production came in at a 5.359 million mt/day rate in March, up 3.6% from February. Production was up on a year-over-year basis as well, climbing 2.9% from the 5.210 million mt/day rate in March 2024.
Despite the jump in March, Q1 global production was still down 0.3% compared to Q1 2024.
While production increased around the world, the boost mainly came from China. Chinese production came in at a 2.995 million mt/day rate, up 6.3% from February and was at its highest daily rate since June.
Production in the North American region slipped slightly, sliding to a 298k mt/day rate. Production in the U.S. declined 2.0% from February to a 217k mt/day rate.
Zinc Price & Inventory
Based on the London Metal Exchange, Weekly Zinc Price and Inventory Report and the Shanghai Futures Exchange, Weekly Zinc Inventory Report, dated April 25:
Zinc pricing rebounded this week after dropping to an eight-month low the week prior. Zinc pricing ended the week at $2,617/mt ($1.187/lb), up from $2,520/mt ($1.143/lb) previously.
Zinc was supported by a weaker U.S. dollar along with better-than-expected first quarter economic growth in China, driven by strong consumption and industrial output.
Global zinc inventory decreased again this week, now down four out of the last five weeks. LME warehouse inventory dropped slightly after a 70% increase the previous week, sliding from 190,550 metric tons to 182,300 metric tons. Shanghai warehouse inventory slipped as well this week, dropping from 58,585 metric tons to 51,378 metric tons.
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