Weekly steel price tracker: 2nd week of August – 2025

The global steel industry in August 2025 is navigating a turbulent landscape shaped by economic, political, and seasonal factors. In the United States, weak demand is exacerbated by trade tariff disruptions, with President Trump’s escalation of Section 232 tariffs from 25% to 50% disrupting supply chains. This has led to structural shortages, such as a 5 million-ton slab deficit, making imports from Brazil uneconomical and prompting indefinite idling of Cleveland-Cliffs facilities like Steelton, Conshohocken, and Riverdale. Cut-to-length plate prices have dropped to $53 per hundredweight ($1,060 per short ton), highlighting a “demand story” where tariffs artificially support prices, though long-term boosts from defense and energy priorities offer hope.
In contrast, Asia shows signs of recovery. India’s domestic hot-rolled coil (HRC) prices rose for the second week to 50,000-50,250 rupees ($571-574) per ton, driven by international hikes and raw materials like coking coal, though rupee depreciation limits imports. Exports climbed $10 to $530-540 per ton FOB, with Europe expected to stock up before the Carbon Border Adjustment Mechanism (CBAM) in January 2026. Vietnam’s HRC imports reached $505-510 per ton CFR, supported by domestic offers, while China’s prices dipped slightly but anticipate support from northern production cuts. Green steel premiums remain prominent, emphasizing sustainability trends.
Europe and the Middle East face subdued demand amid tariff adjustments and holidays. The EU reduced anti-dumping duties on Japanese HRFS, but imports from Japan and Vietnam halved, with Northern European HRC at €575 per ton and Italian at €551. Egypt’s billet imports fell to $465-485 per ton CFR due to halted projects, while Turkey launched a new slab import price at $460-480 per ton CFR amid uncertainty. South America’s flat steel imports stayed stable with minor upticks in HRC ($545-560 per ton), but weak demand and logistics issues curb momentum from China’s 5-8% output cuts.
Overall, the market grapples with seasonal weakness and tariff impacts, with the US and Europe facing supply challenges, while Asia fosters optimism through price gains and green initiatives. Future recovery hinges on CBAM implementation, Chinese cuts, and India’s festival season, urging stakeholders to focus on inventory management and diversification for resilience.