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Global MFG - Jun 28, 2021

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Steel Going Into Biden’s Infrastructure Plan Reaches Record

Yvonne Yue Li | Bloomberg.com

Steel Going Into Biden’s Infrastructure Plan Reaches Record

 

A key steel product used in construction and automobiles reached a record Monday as U.S. President Joe Biden pushes ahead with his infrastructure spending plans.

Hot-rolled coil for July delivery rose 0.7% to $1,800 a short ton in New York, an all-time high, extending gains since the president secured a $579 billion bipartisan infrastructure deal on Thursday. Prices have more than tripled in a year.

 

#automotive #steel

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