Market Update | August 13, 2025

JULY SEES SLOWEST CONSUMER PRICE GROWTH SINCE DECEMBER

​Prices paid by consumers increased again in July, climbing 0.15% on an adjusted basis from June.​ Despite the increase, this was the smallest month-over-month growth since December. It’s the third consecutive month in which prices increased on a year-over-year basis, however, climbing 2.7% compared to last July. Excluding the volatile food and energy sectors, prices increased 0.19% from June and were up 3.06% from last July. The CORE-CPI saw prices increase the most for the shelter index, medical care, vehicle insurance, and household furniture. Prices for apparel, appliances, and nonprescription​ drugs, were down compared to last July.

 

PRICE

Domestic sheet pricing remained range-bound this week and saw little movement across the board.

  • While both hot-rolled and cold-rolled product pricing inched higher, hot-dipped galvanized pricing slipped.
    • Pricing has now been stuck in this tight range since Memorial Day.
  • Slower demand and the desire for leaner inventories is canceling out the bump seen from the recent limitation to import competition.

 

Input Costs

Zinc pricing was up slightly this week but remained in a very tight range.

  • Pricing increased to $1.29/lb this week, and was above the thirty-day average of $1.24/lb.

 

Spot iron ore pricing rebounded slightly this week after a slight decline a week ago.

  • The current price increased to $113/mt, up from $111/mt last week.

 

After the explosion earlier this week, a small section of Clairton Coke Works is still operable. They are currently running 3-4 of the seven coke batteries.

  • Coke output will be limited due to the ongoing investigation and the massive damage to batteries 13 & 14
  • U.S. permanently closed coke making at Gary Works about 10 years ago, so Clairton has been producing coke for the blast furnaces at Gary but railing the material to Gary.
    • Stockpiles of coke at Mon Valley/Gary will be limited as coke typically can only stay in storage for 10-14 days because exposure to elements degrades the material.

 

Coking coal pricing increased this week, climbing to $185/mt.

  • This is up 1.0% from last week and up 4.5% from this time last month.

 

SUPPLY

U.S. raw steel production increased again last week, now up for the fifth time in the last six weeks and was the highest weekly output since January 2022.

  • U.S. steelmakers produced 1.800 million tons at a 79.5% utilization rate.
  • Production is up 1.0% from last week but was up 3.8% from the same week last year.
  • YTD production is now up 1.2% from the same timeframe last year.

 

DEMAND

Shipments of N.A. (U.S./Canada) tractor and combines declined sharply in July after a slight increase in June.

  • July tractor and combine shipments totaled 19,975 units, down 18.2% from June and down 5.7% from 21,180 units in July 2024.
    • This was the 26th consecutive month with a year-over-year decline.
  • ​Looking on a year-over-year basis, to help smooth seasonality, both tractors and combines declined, sliding 4.6% and 33.3%, respectively.
  • Year-to-date shipments are now down 10.3% compared to the same timeframe last year.

 

ECONOMIC

Prices paid by consumers increased again in July, climbing 0.15% on an adjusted basis
from June.​

  • Despite the increase, this was the smallest m/m growth since December.
  • ​This is the third consecutive month in which prices increased on a y/y basis, however, climbing 2.7% compared to last July.
  • ​​Excluding the volatile food/energy sectors, prices increased 0.19% from June and were up 3.06% from
    last July.

    • The CORE-CPI saw prices increase the most for the shelter index, medical care, vehicle insurance, and household furniture.
    • Prices for apparel, appliances, and nonprescription​ drugs, were down compared to last July.

 

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.