Aside from the price drop, the industry is also affected by the trade war between the U.S. and China.
The effects of the sanctions implemented by the Trump administration have started manifesting.
The US steel industry is up for better things this coming third quarter but Trump's tariffs can be a challenge for the workforce.
Japan has notified World Trade Organization about countervailing duties and its plans of taking them up against the US in response to import tariff hikes.
Some experts believe the market could reach its peak as the prices are getting closer to the $800/st mark.
Iran developed its national steel industry development program in 2015, with the goal of increasing its capacity to 55 million metric tons by 2025.
Great Boulder Resources discovers a mining deposit at Western Australia. The place is said to accommodate a large sum of copper, nickel, and cobalt.
Aluminum prices received an 18 percent spike as a result of the sanctions applied on Russia.