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    August 13, 2021

    Stelco on Steel Prices: 'Historical Norms Not Relevant Anymore'

    Written by David Schollaert

    Steel prices will go higher and stay stronger, predicted company executives during Stelco’s second-quarter 2021 earnings call on Wednesday.

    stelcoThe Hamilton, Ontario-based flat-rolled steelmaker was rather bullish on the prospect of steel prices and their general direction through 2022 and beyond. As the company claimed “industry-leading profit margins” and record-setting quarterly results due to a favorable pricing trend, its Executive Chairman and CEO Alan Kestenbaum suggested there is little indication prices will turn anytime soon, discouraging the notion of hedging.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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