Steel (USA) Prices

Steel (USA) prices averaged USD 709 per metric ton in October, up 0.2% from September. On 31 October, the commodity traded at USD 715 per metric ton, down 2.7% from 30 September.

In October, prices were broadly unchanged from September’s level. Markets seemingly adopted a wait-and-see approach following a price spike after the Fed’s cut in September. Meanwhile, PMI data for October signaled that the downturn in the manufacturing sector softened.