Tim Triplett

Steel buyers and metal fabricators continue to wonder where exactly steel prices will settle after hitting historic highs last year.

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With U.S. steel demand softening and imports increasing, steel buyers are expecting a steel price correction, write John Packard and Tim Triplett of Steel Market Update.

It's been a little more than a year since steel prices began a historic rally. And with prices recently reaching an astounding $1,900/ton, it seems certain that relief won’t come until 2022.

Steel prices are continuing to reach record highs, and there's no indication of major cost relief on the horizon for metal fabricators.

Record-high steel prices are sticking around longer than anyone in the metalworking industry anticipated, write John Packard and Tim Triplett of Steel Market Update.

Raw steel prices affected by insufficient supply at mills and strong demand for steel make fabricators and manufacturers pay unprecedented prices for materials.

Hot-rolled steel prices that had reached heights not seen since 2008 are expected to start declining by the end of Q2 at the latest.

Hot-rolled steel prices have reached levels not seen since in 13 years. Pricing is expected to fall below the $1,000/ton mark, but that might not be until late 2021. Now steel buyers are left with some important questions.

Because of increased demand for steel and supply shortages heading into 2021, hot-rolled steel prices have climbed to levels not seen in more than a decade.

As steel mills keep supplies tight in the face of increasing demand, steel prices look to remain high into 2021, write John Packard and Timothy Triplett of Steel Market Update.

With more sidelined steelmaking capacity returning to action and new capacity opening up in 2021, steel mills might find that supply might outstrip demand for steel in the coming year. That's good news for metal fabricators.

Steel prices jumped in early September, but many steel buyers question if they’ll remain where they are. Meanwhile, steel buyers do seem optimistic about business as 2020 comes to an end.

Steel producers and distributors are coming to grips with the fact that manufacturers that consume their steel products are not going to bounce back to full strength anytime soon.