Via AG Metal Miner The Raw Steels Monthly Metals Index (MMI) rose by 8.74% from February to March. The growth was largely due to the massive increase in the U.S. HRC Futures contract, which jumped by nearly 49%. Because of this, steel prices reacted accordingly. HRC prices continue to show bullish strength in the short term, even breaking out of their December 2022 highs. However, as prices begin to breach the $950-1000/ton resistance zone, price action would need to form a new higher low to confirm the potential uptrend. Should they continue higher,…
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