Metal prices reached multi-year highs

Not so long ago, Bitcoin was worth a penny, and many abandoned its prospects of achieving real value. Now its price is usually in excess of $ 55,000 per coin – a hefty profit for those optimistic enough to take a long position in the cryptocurrency.

Likewise, just a few months after some types of products in the metallurgical complex reached multi-year lows, and experts predicted a prolonged decline, but now almost all rolled metal products are trading near historic highs.

Hot Rolled Steel (HRC) from the USA is a good example. While the COVID-19 pandemic continues to shake the global economy, the HRC estimate in the U.S. Midwest fell to a 2020 low of $ 439.25 in early August.

The HRC, usually an indicator of the health of the industry, is currently the most expensive ever at over $ 1,320, nearly double the 10-year average and about 200% above the August low.