After a year of the worst downturn in the US steel industry, domestic mills have benefited from historically high finished steel prices, limited supply and record profits from scrap metal.
US steel utilization was 77.4% last week, according to AISI. Before the outbreak of the pandemic, this indicator remained stable at more than 80%.
This market situation has led to a sharp increase in prices and their maintenance at record levels. Many market participants have encountered difficulties in obtaining spot quotes from steel mills.
Since August 2020, spot prices have reached record highs and many service centers are facing supply shortages due to higher demand from customers.
US steel mills firmly control the market
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