Roller Coaster Metal Prices

Prices for the metal have fallen about 40% since the start of the year. It’s been a roller coaster since 2020, from unprecedented highs reached a few years ago, when demand for steel surged after the pandemic lockdowns.

But higher interest rates are discouraging the industries that rely on steel and construction spending has slowed. Plus manufacturing activity has flattened.

Factors such as interest rates and even the national election are guiding companies into a holding pattern. If companies hold off from investing in big projects, steel prices could still have more room to fall. Time will tell.