Steel (USA) Prices

Steel (USA) prices averaged USD 860 per metric ton in November, up 5.4% from October. On 28 November, the commodity traded at USD 908 per metric ton, up 6.7% from 31 October.

In November, prices rose at the fastest pace in eight months and posted one of the best performances among base metals. On the demand side, expectations of Fed interest rate cuts in December likely boosted U.S. demand prospects. On the supply side, large U.S. producers Nucor Corporation and NLMK hiked their prices.