There are several reasons that steel prices are staying high thru the summer, and here is what I am hearing.

  1. Scrap prices are staying high this summer due to the weak dollar.
  2. A Lot of Exports to China for their steel mills can’t keep up with production for they have a lot of blackouts during the summer for they have a horrible electrical grid.
  3. The Federal Government move to QE3 or QE2 plus.