June Market Minute 2025

For Jonathan, SteelNow Customer Experience Manager, recent conversations with customers have revealed continued uncertainty around tariffs.

While some metal buyers purchased additional material earlier in the year in anticipation of tariff-driven price increases, most have been more cautious, buying only what they need while watching the market. Meanwhile, fabricators find themselves quoting a lot of business but not winning as many jobs as this time last year, suggesting that their own customers may be waiting to move forward on projects given market conditions. 

Aluminum Market Volatility Hits Home for Texas Metal Buyers

The recent decision to double Section 232 tariffs on imported aluminum is sending shockwaves through the U.S. market—and Texas metal buyers are feeling the heat.

Perhaps the biggest impact for aluminum comes by way of the Midwest Premium (MWP), which is the logistical cost. In the matter of just one week, the MWP jumped 15–16 cents/lb. This adds to the total cost of finished common alloy aluminum, which has surged by as much as 30 cents/lb.

This spike is largely tied to tariff-driven uncertainty. While current premiums sit around 50–55 cents/lb., futures suggest a potential climb to 73 cents if broad exemptions don’t materialize.

Even as domestic mills ramp up production—boosting utilization to 78%—tight depot inventories and rising input costs could create further price pressure. Negotiations with key partners like Canada and Mexico may offer relief, but in the meantime, Texas buyers should brace for continued volatility in the aluminum market.

Stainless Steel Prices Climb—And Surcharges Still Matter

North American Stainless, the largest stainless producer in North America, announced significant surcharge increases effective July 1.

• Cold rolled 304 grade is set to rise by $0.14–$0.15/lb.

• 316 by $0.20–$0.21/lb.

• 430 by $0.11/lb.

These monthly adjustments reflect raw material inputs like nickel, chromium, and molybdenum, which continue to show volatility. Even as mills raise base pricing, movement in surcharges can either amplify or partially offset final costs.

When buying stainless steel in Texas, understanding both the base price and surcharge landscape is essential. Combined with recent tariff uncertainty, stainless steel pricing in the second half of 2025 could remain anything but stable.

The Latest Steel Prices

As of June 18, the CRU prices for steel were:

• Hot Roll $878/ton

• Cold Roll $1,058/ton

• Coated $1,082/ton

• Plate $1,132/ton

Where Does Your Metal Come From?

At SteelNow, we know how important Mill Test Reports (MTRs) can be when determining the original source of your metal. That’s why we ensure you get the documentation you need with your metal purchase—no extra hassle, just the details you require.

Whether you’re sourcing aluminum, steel, or other metals, we make it easy to get material certifications for quality and compliance.

Need MTRs? Just let us know—we’ve got it handled.

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