Steel held its price for the first time in seven months, breaking a string of losses that most market observers expected would continue.
The monthly Raw Steels MMI® registered a value of 60 in April, on par with March’s value.
Continuing low prices for iron ore and a generally weak scrap market are causing a deflationary spiral for most grades of steel.
Low Prices, Lower Demand
Steel prices fell sharply during the first quarter and our steel index got a much-needed breather.