Best of MetalMiner: Steel Still Flat So Far in 2014, Producers Still Posting Profits

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“Our steel price index has been trending quite flat since last year. Steel demand looks optimistic for some, but not that bright for others. The US steel industry had better-than-expected performance during the second half of 2013, but a brighter future is still not certain.”

Raw-Steels_Chart_August-2014_FNLThat’s what our Lead Forecaster, Raul De Frutos wrote back in May and not much has changed in steel since then.

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Our steel MMI had literally not changed by July and was experiencing a phenomenon we dubbed “remarkable flatness.”

It’s not as if the steel story is over with a quarter of the year left. 2013 saw a late-year price surge and all of the market conditions necessary exist to for another late-year rally. Steel gets an incomplete so far, so stay tuned.

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