After a year of the most severe decline in the output of the US steel industry, domestic flat-rolled mills have benefited from the historically high finished steel prices, tight supply, and record scrap profits.

According to AISI, the utilization rate of US steel mills was at 77.4% last week. Before the pandemic outbreak, the rate remained stable at more than 80%.

This market situation has caused prices to soar and remain at record levels. Many market participants found it was difficult to get spot quotations from steel mills.

Since August 2020, spot prices have hit record highs, and many service centers are facing a shortage of supply due to higher demand from customers.