As the year draws to a close, let’s take a look back at the MetalMiner stories that have proven most popular with readers this year, starting with Carbon Steel.
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As with metals as a whole, steel prices have had a turbulent 2020 following the onset of the coronavirus pandemic. This year, however, turned out to be a different story, as steel prices in the United States enjoyed an almost uninterrupted ascent that did not end until October.
The coronavirus pandemic caused overall demand for metals, including steel, to fall in 2020. The automotive industry slowed production at the end of the first quarter and in the second quarter of 2020, which weighed heavily on Requirement. However, automakers eventually restarted lines and demand returned. Automakers, however, continue to face supply shortages, which has contributed to low inventories and flat sales.
In August 2020, U.S. steel prices began a run that didn’t end until October 2021. Hot-rolled coil prices, for example, jumped to around $1,930 per ton. short in October, according to data from MetalMiner Insights. HRC prices remain high but have since declined, falling to $1,697 per short ton last week.
The emergence of the omicron variant in recent weeks has cast a cloud over global markets, as several European countries reinstated lockdown measures amid rising infection rates.
On the political front, President Joe Biden signed the Infrastructure Investment and Jobs Act in November. The bill, which includes $550 billion for infrastructure improvements, is expected to boost demand for metals, in general. However, this boost is unlikely to materialize immediately.
With that, let’s take a look back at the most-watched carbon steel stories of the year on MetalMiner.
Stop obsessing over the expected real price of steel. It is more important to spot the trend.
MetalMiner’s Most Viewed Carbon Steel Articles of the Year
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Raw Steels MMI: U.S. steel prices continue to rise, but pace of gains begins to slow
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Raw Steels MMI: As steel prices slow, could a peak be near?
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Automakers see brutal 2022 steel price negotiations
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Raw Steels MMI: Chinese steel prices okay, US prices continue to rise
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Crude Steels MMI: Index rises in double digits as steel prices rise to close 2020
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This Morning in Metals: Chinese steel prices fall
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Raw Steels MMI: Steel prices continue to soar in April, early May
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GFG Alliance and Liberty Steel’s financial situation under scrutiny
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Rising commodity prices drive up Indian steel prices
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Steel prices fall in China as emissions targets are relaxed
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