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Steel Margin Analysis | Raw Materials to Finished Steel


Steel Price Spreads

Scrap Billet Rebar & Slab HRC CRC

In the steel industry, pricing differentials between raw materials or intermediate semi-finished steels and finished steel products play a crucial role in determining profitability and investment potential. Whether you are a producer managing input costs, a trader analysing market trends, or an investor evaluating modernisation opportunities, monitoring these price spreads can provide essential insights. Margins between iron ore, scrap, and finished steel products such as hot-rolled coil or rebar can fluctuate very markedly due to changes in supply chains, demand cycles, and global economic factors.

By keeping track of steel price spreads, businesses can better anticipate market shifts, identify arbitrage opportunities, and make bettter-informed strategic decisions. At SteelOnTheNet, we provide historic data on these price spreads, helping industry professionals navigate this complex landscape with confidence. Explore our latest price differential trends below.

Steel scrap to billet price spread chart - 3 year historical trend analysis
Scrap to Billet Melt Shop Margin - 3 Yr

Steel scrap to rebar price margin chart - 3 year pricing differential analysis
Scrap-to-Rebar Margin ($/t) - 3 Yr

Steel billet to rebar price margin chart - 3 year rolling mill profitability analysis
Billet-to-Rebar Processing Margin ($/t) 3 Yr

Steel slab to HRC price spread chart - 3 year hot rolling margin analysis
Slab-to-HRC Conversion Margin ($/t) - 3 Yr

HRC to CRC price differential chart - 3 year cold rolling margin analysis
HRC-to-CRC Rolling Margin ($/t) - 3 Yr

HDG to organic coated sheet price spread chart - 3 year coating margin analysis
HDG-to-OCS Coating Margin ($/t) - 3 Yr


The charts above [updated monthly] may be helpful to investors considering investment in billet mills, in rebar production or in flat product production as they provide some indication of historic pricing differentials (i.e. steelmaker margins) in the long and flat product value chains.

All steel price spreads are in US $ per metric tonne fob local port; based on average world export prices. Note that latest data points will generally change one month later, when they will be based on a more complete set of transaction data. Source of pricing information is Metals Consulting International Limited [MCI].

For further price spread history for long or flat products or to purchase MCI's data for steel pricing differentials going back ~15 years, please email us.







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