The State of Steel: 2021
Demand for a range of steel products is on the upswing in the US as the post-pandemic recovery picks up steam. Steel prices are hovering at near-record levels, outpacing the cost of imports, yet imports remain slow, held back by Section 232 tariffs and quotas and by increasingly stringent oversight of exclusion remedies. Additionally, high freight rates and tight capacity are causing severe pain for anyone in the spot market. Traders are waiting to see what happens with prices and demand, even as import inquiries pick up steam. Some believe we're seeing the leading edge of a commodity boom that will continue to push steel demand and prices, while others expect both to cool off as summer approaches. This panel of industry experts will discuss what they are seeing, how they are managing, and what they expect from the steel market.