Steel Rally Powers Ahead With U.S. Mills Wary of Boosting Output
Yahoo! Finance
(Bloomberg) -- The record-breaking rally in steel has further to run as producers vow not to get burned again by ramping up too fast.Prices for benchmark hot-rolled coil futures in the U.S. have surged more than 80% this year, touching an all-time high last week as reopening economies fuel consumption. Despite customer pleas for more metal, steelmakers that paid steep costs to shut down furnaces during the pandemic have yet to announce additional plans to build out capacity, focusing instead on
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