Could a steel price change be politically unpalatable?

However, any changes could be politically unpalatable given that the steel industry is concentrated in key electoral states. In early May, futures prices for 20-ton rolls of domestic steel — the benchmark for most steel prices nationwide — pushed above $1,600 per ton for the first time ever, and prices continue to hover there.

Is the steel price surge bringing optimism to steel towns?

But the price surge is delivering some optimism to steel towns across the country, especially after job losses during the pandemic pushed American steel employment to the lowest level on record.

Is the price of steel a good barometer for global economic strength?

Therefore, the price of steel is a good barometer for global economic strength. The following five areas represent important specific determinants of steel prices: China uses about half of the annual global supply of steel and, therefore, may be the biggest determinant of steel prices.

What factors determine the price of steel?

From supply and demand to the strength of the American dollar, seasonality to global pandemics, these factors and more combine to determine the price of steel for manufacturers, buyers, and consumers. The price of your steel building, in part, is determined by its size and customization options. Those are internal factors that you can control.