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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
The Prime Scrap report dated February 13 (the most recent report available at press time), states prime scrap climbed for the third consecutive month—to the highest level since April.
Prime scrap settled at $445/gt, up $30 from $415/gt in January.
Winter storm Fern disrupted scrap collection and distribution across the U.S., limiting overall supply in the market. Export demand also continues to improve, while hot-rolled prices are holding above $950/ton, signaling confidence in the market.
Shredded scrap pricing increased by $30/gt as well in February, keeping shredded and prime in parity for the second consecutive month.
Spot Iron Ore
The Platts, Spot Iron Ore report for the week ending March 6 reports that pricing increased for the second consecutive week, climbing back over $100.00/mt. Spot iron ore pricing ended the week at $100.75/mt, up from $99.00/mt the previous week.
Iron ore increased two consecutive weeks after hitting the lowest level since June 2025. Post-holiday restocking provided a boost to pricing although Chinese inventories remain robust.
Domestic Steel Production
According to the American Iron & Steel Institute, Weekly Domestic Steel Production report dated March 3, domestic raw steel production dipped slightly after hitting the highest output since January 2022.
U.S. mills produced an estimated 1,811k tons at a 78.3% utilization rate, down from 1,817k tons and a 78.5% rate previously.
Despite the slight drop, production has increased seven out of the last nine weeks. Production slipped in three of the five regions, with the largest decrease (in tons) coming from the Southern region. Production in the Southern region dropped from 836k tons to 811k tons. Year-to-date production is now up 7.6% compared to the same time frame last year.
Carbon Mill Shipments
According to the American Iron & Steel Institute Carbon Mill Shipments: January 2026, domestic mill carbon flat rolled shipments rebounded to start the new year.
January flat rolled shipments totaled 4.313 million tons, up 3.5% from December but down sharply from last January. Year-over-year shipments fell 10.4% and were at their lowest January level since 2023.
Within overall flat rolled, month-over-month shipments saw increases from cold rolled products. The 3.8% month-over-month increase in cold rolled shipments overcame slight declines in hot rolled and coated shipments.
Zinc Price & Inventory
According to the London Metal Exchange, Weekly Zinc Price and Inventory Report and the Shanghai Futures Exchange, Weekly Zinc Inventory Report, both dated March 6, zinc pricing dropped after climbing the previous two weeks.
Zinc pricing ended the week at $3,237.50/mt ($1.490/lb), down from $3,325/mt ($1.508/lb) previously. Global economic and manufacturing sentiment took a hit this week following the Middle East conflict. Global zinc inventory increased again, now up eight out of the last nine weeks.
LME warehouse inventory slipped from 98,400 metric tons to 95,000 metric tons. Shanghai warehouse inventory increased again however, climbing from 126,052 metric tons to 134,921 metric tons.
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