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.