Falling Prices And High Costs Eat Away At Steelmaker Margins

The Raw Steels Monthly Metals Index (MMI) fell by 8.73% from July to August. All in all, U.S. steel prices continued their descent, leaving cold rolled coil and hot dipped galvanized prices at their lowest point since January 2021. Meanwhile, hot rolled coil prices fell well beneath the $1,000/st mark, reaching their lowest point since December 2020. However, plate prices managed to disrupt two consecutive months of decline, by rising in July. Source: Insights Correlation Declines: Record Spread Between HRC and Plate Steel Prices Source: Chart…