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Raw Steels MMI: Steel demand on the rise

Chinese steel prices correct as U S steel prices continue to rise

Chinese steel prices correct as U S steel prices continue to rise
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Steel prices continue to surge as supply tightness persists

The Raw Steels Monthly Metals Index (MMI) picked up 9.0% for this month’s reading, as steel prices continued ascending this past month. US steel prices continue to rise For buyers waiting to see a peak in steel prices: keep waiting. At least for now, steel prices continue to rise, posting double-digit month-over-month price gains. Price rises took somewhat of a pause from late March into mid-April, but it proved temporary. The US hot rolled coil price, for example, closed Tuesday at $1,456 per short ton, or up 10.39% from a month ago. Meanwhile, cold rolled coil reached $1,645 per short ton, or up 8.8%. US hot dipped galvanized rose by 10.69% to $1,770 per short ton.

Steel prices continue to rise but pace of gains appears to slow

The Raw Steels Monthly Metals Index (MMI) rose by 7.8% for this month’s reading, as steel prices continued to rise. Are you prepared for your annual steel contract negotiations? Be sure to check out our five best practices. Steel price gains slow As we’ve chronicled in this monthly column, steel prices have been rising consistently since last summer. Buyers have struggled to find supply in what eventually became an allocation market. Steel prices have posted double-digit percentage gains on a month-over-month basis. However, that ascent appears to be slowing somewhat. The US hot rolled coil price, for example, continued to increase. The US HRC three-month price rose 20% month over month to $1,280 per short ton. However, the price has flattened out thus far in April.

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