Market Update | July 7th 2021

The cost to produce steel climbed this week. Coking coal leaped 7.5% and is up 72.4% year over year due to international demand, global policy, and finished steel pricing. U.S. crude oil pricing pushed higher as OPEC remains deadlocked over immediate production plans. And while U.S. pig iron pricing slipped slightly this week, it’s poised to jump with Russia imposing a 15% export tax.