U.S. Steel Prices Go Higher As Demand Increases

The steel industry made a strong come back in the first quarter of this year. This is mainly due skyrocketing steel prices and rebound demand for end-use markets. The industry is have an upswing in demand and supply constraints.

Steel makers are seeing strong order booking in automotive. Recovery in the automotive industry has accelerated following pandemic-led shutdowns on the back of strong customer demand. The automotive rebound is driving demand for flat-rolled steel products. Source

Paul Ausick writes the U.S. steel industry is getting a push from more sources than just the recently proposed infrastructure bill proposed by the new administration. According to a new research report on the industry from Goldman Sachs analysts Emily Chieng and Abigail Chernila, the highly cyclical steel industry is “currently enjoying the benefits of metal prices at all-time highs, underpinned by strong pent-up demand, lagging supply, and a low starting point for inventories.” Steel Stocks Soar

As a country on the path to recovery, American-made steel is crucial to self reliance, jobs, and security. Domestic production provides stability in a volatile supply chain. Made in America 2021 in Louisville, Kentucky will display American Made brands and U.S. manufacturers from across the country. Sign up to exhibit or attend today!

Leave a Reply