This morning in metals news: steel prices continue to cool heading toward the year’s end, MetalMiner Insights data indicate; meanwhile, global crude steel production continued to decline in November; and, finally, the U.S. exported more petroleum and crude oil products than it imported in the first half of 2021.
U.S. steel prices remain elevated compared with historical levels.
However, steel prices have begun to cool over the last couple of months in 2021, MetalMiner Insights data indicate.
U.S. cold rolled coil closed last week at $2,053 per short ton, or down 2.6% month over month. However, the price remains well above the December 2019 price of just over $1,018 per short ton.
Meanwhile, U.S. hot rolled coil is down 5.7% month over month to $1,690 per short ton. The price is up from the December 2019 price of around $910 per short ton.