08 Nov, 23

Steel Prices Rise As Supply Tightens

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Via Metal Miner 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 September. However, in October, the market shifted, leading to a nearly 17% rise in HRC prices as they retraced back to their August range. Both CRC and HRC steel prices followed HRC prices up, with respective 13% and 12% increases. Plate proved the only exception, as prices continued to edge lower with an almost 3% month-over-month decline. Steelmakers Secure Six Week Price Uptrend…

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