In many areas of the world it has been a turbulent period for the steel industry, including the United States. But there are many signs indicating that things are looking up across the country. After making it through a somewhat difficult winter, prices of domestic steel have been on the rise, which is great news for the American steel industry.
The price of hot-rolled coil, otherwise known as HRC, has risen this spring. Although still not as high as the prices last fall, things are moving in the right direction. There have been several small mill price increases that when taken alone don’t add up to much, but overall paint a positive picture of where things are going.
It is important to keep in mind that steel is a cyclical business, and there have been many similar drops and rises in price in the past. The good news is that recently it seems that these cycles have been more consistent, so manufacturers have a better idea of what to expect during different times throughout the year. This can help to prevent manufacturing too much or too little during any given month.
We’re happy to hear that the steel industry is rebounding from this winter, and we expect things to continue to improve in the coming months. At Florida Pipe & Steel, we aim to keep our customers up-to-date on everything going on within the industry both in the US and abroad. For more updates, stay tuned to our blog!