Are U.S. Steel Prices Poised for a Rebound?

Via Metal Miner The Raw Steels Monthly Metals Index (MMI) moved sideways, with a 1.15% decline from July to August. U.S. steel prices remained in search of a new bottom by the close of July. HRC prices dropped a total of 8.26% during the month, pushing them to their lowest level since December 2022. However, prices appeared to stabilize by the first week of August as mills attempted to invert the bear trend with the announcement of higher prices. Rumors of a Bottom Echo April Warnings Despite seemingly bearish market signals, rumors began to emerge…