Advertisement
Singapore markets closed
  • Straits Times Index

    3,290.70
    +24.75 (+0.76%)
     
  • Nikkei

    38,229.11
    +155.13 (+0.41%)
     
  • Hang Seng

    18,963.68
    +425.87 (+2.30%)
     
  • FTSE 100

    8,433.76
    +52.41 (+0.63%)
     
  • Bitcoin USD

    60,899.34
    -2,147.30 (-3.41%)
     
  • CMC Crypto 200

    1,261.11
    -96.90 (-7.14%)
     
  • S&P 500

    5,222.68
    +8.60 (+0.16%)
     
  • Dow

    39,512.84
    +125.08 (+0.32%)
     
  • Nasdaq

    16,340.87
    -5.40 (-0.03%)
     
  • Gold

    2,366.90
    +26.60 (+1.14%)
     
  • Crude Oil

    78.20
    -1.06 (-1.34%)
     
  • 10-Yr Bond

    4.5040
    +0.0550 (+1.24%)
     
  • FTSE Bursa Malaysia

    1,600.67
    -0.55 (-0.03%)
     
  • Jakarta Composite Index

    7,088.79
    -34.81 (-0.49%)
     
  • PSE Index

    6,511.93
    -30.53 (-0.47%)
     

What Lies Ahead for US Steel Mills after This Year’s Windfall?

What Lies Ahead for US Steel Mills after This Year’s Windfall?

US steel prices rose sharply in the first half of 2018 as President Trump’s Section 232 tariffs lifted US steel prices with the benchmark HRC (hot roll coil) prices rising to a decade high. Higher spot steel prices supported US steel companies’ average selling prices (or ASP) in the last two quarters. However, spot steel prices fell last month. Although prices have stabilized after companies like Nucor (NUE) and ArcelorMittal (MT) announced price hikes, they are still below their 2018 highs.