Record steel prices inject life into industry; India set to boost capacity

Industrial demand propels rallies, with plants straining to boost supply after lying dormant during pandemic.

There’s rarely been a better time to be in the steel business.

Prices have boomed worldwide this year, smashing record after record. Roaring industrial demand is propelling those rallies, with plants straining to boost supply after lying dormant during the pandemic. On top of that, powerhouses China and Russia are trying to limit exports to help other industries at home.

“If you’d asked me six months ago what was my most positive vision for the first half of 2021, I don’t think I would’ve even come close to the reality,” Carlo Beltrame, who manages Romania and France for AFV Beltrame,