U.S. flat rolled steel prices, particularly hot rolled coil (HRC), have surged to over $1,000 per short ton, marking a significant bullish trend in the steel market despite a manufacturing slowdown.
U.S. steel prices are on the rise due to a tight supply and extended mill lead times, despite risks from a contracting manufacturing sector and potential declines in consumer demand.
The Raw Steels Monthly Metals Index (MMI) rose 2.53% from September to October. Roughly six weeks ago, U.S. steel prices found a bottom at the close of