Loading ...Chaos In Steel Market As Manufacturers Battered By Shortages, Soaring Prices
The virus pandemic has upended global supply chains and produced shortages of certain commodities, sending spot prices sky-high. The latest shortage is steel, where many US manufacturers are having difficulty procuring cold-rolled and hot-rolled steel from mills, reported Reuters.
At the moment, steel shortages are sending spot prices through the roof. The latest round of disruptions in the steel industry is impacting America’s manufacturing heartland, where aerospace parts maker in California struggles to find cold-rolled steel, while auto and appliance parts manufacturers in Indiana are having trouble securing hot-rolled steel.