U.S. Steel looks to capitalize on record-high prices — Panjiva

Supply Chain Research

U.S. Steel looks to capitalize on record-high prices

Canada 478 Materials - Metals/Mining 721 Metals - Steel 490 Mexico 857 Trade Balance 926 U.S. 5277

U.S. Steel has announced plans for a new, 3 million ton capacity plant starting next year, counting on high steel prices to continue. CEO David Burritt said in an interview that “We have the winds at our backs. Steel prices seem to be sustainable.” Data on steel prices show that the average price of steel has increased by 238.9% year over year in September, but has flattened out month to month, increasing by only 0.1% from August. Measures of rebar and import prices were less extreme, increasing by 29.5% and 54.3% year over year in August. Part of the company’s calculations may be the Se...

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