Carnegie Market Blog

 

Is Steel Bouncing Back?

Posted by Brent Luce on Mar 2, 2016 3:31:02 PM

U.S. Steel Production

 U.S. steel production has jumped this year.  In talking to some of my contacts in the steel industry, the comments range from “things are still dismal” to “there is a ray of hope” to “there are pockets of strength and weakness, depending on which type of steel you are talking about.”  While the recent bounce back is nice, the chart below illuminates the fact that steel production in the U.S. is still trending down and is still far below 2008 levels (before the bottom fell out).  Not coincidentally, as you can see in the second chart, steel stocks have bounced over 50% from their recent lows.  MORE:  U.S. Steel Imports Drop Sharply in January

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Topics: Steel Prices, Market Sentiment

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