Market Update | August 06, 2025

U.S. LIGHT VEHICLE SALES REBOUNDED IN JULY

After sliding the previous three months, July light vehicle sales came in at a 16.87 million unit rate, up 7.6% from June and up 6.0% from the 15.83 million unit rate last July. The twelve-month average increased to 16.28 million units, the highest level since July 2021. Sales of both light truck and cars increased, climbing 7.7% and 6.4%, respectively. Domestically produced cars and light trucks saw similar month-over-month increases in July. Imports’ 23.1% share of the U.S. light vehicle market edged down from 23.2% in June.

 

PRICE

Domestic sheet pricing slipped across the board this week as ongoing tariff uncertainty and demand weakness continues to take its toll on the market.

  • Hot rolled pricing dropped this week after climbing the previous two weeks, to the lowest level since February.
  • Cold rolled pricing dropped this week after climbing the previous four weeks.
    • Cold rolled pricing dropped 1.2% from last week to the lowest level since the first week of July.
  • HDG pricing dipped slightly for the third consecutive week to the lowest level since the first week of June.

 

Input Costs

Zinc pricing was flat from last week and remains in a very tight range.

  • Pricing remained at $1.26/lb this week, and was above the thirty-day average of $1.24/lb.

 

Spot iron ore pricing remains elevated near a five-month high.

  • The current price increased to $101/mt, up from $99/mt last week.

 

Coking coal pricing increased again this week to the highest level since early July.

  • Coking coal pricing was $183.20/mt this week, up from $176/mt last week.
    • This is up 4% from last week, but down nearly 18% from the same time last year.

 

SUPPLY

U.S. raw steel production increased again last week, now up four out of the last five weeks.

  • U.S. mills produced an estimated 1,782k tons at a 78.7% utilization rate; this is up from 1,777k tons and a 78.4% rate previously.
  • This was the highest weekly output since the first week of July.

 

DEMAND

After sliding the previous three months, U.S. light vehicle sales rebounded in July.

  • July light vehicle sales came in at a 16.87 million unit rate, up 7.6% from June and up 6.0% from the 15.83 million unit rate last July.
  • The twelve-month average increased to 16.28 million units, the highest level since July 2021.
    • Sales of both light truck and cars increased, climbing 7.7% and 6.4%, respectively.
  • ​Domestically produced cars and light trucks saw similar m/m increases in July.
    • Imports’ 23.1% share of the U.S. light vehicle market edged down from 23.2% in June.
  • These compare to a May 2023 low of 22.9% and a high of 26.3% in November of 2023.

 

 

 

This material, information and analyses (the “Content”) may include certain statements, estimates and projections prepared with respect to, among other things, historical data and anticipated performance.  Content may reflect various assumptions by Majestic Steel USA, Inc. concerning anticipated results that are inherently subject to significant economic, competitive and other uncertainties and contingencies and have been included for illustrative purposes. Content is provided AS-IS.