Steel Industry Showing Signs of Recovering
According to MEPS International Ltd., a U.S.-based steel consultant group, flat-rolled steel is rebounding in nearly every developing country in the world, leading to higher steel prices.
Steel prices rose 13% in July, which marked the first gain in a year, after distributors began restocking their inventories. According to Purchasing magazine, the average price of hot-rolled steel sheet increased to $430/ton from $380/ton in June. Cold-rolled sheet climbed 11% to $517/ton.