Prices for products are elevated, and one of the main drivers of these price hikes has been the cost of scrap steel. Costs have varied within multiple grades of scrap, but they are running between $354 and $363 a ton. Tariff decisions change the market almost daily as waivers are granted, and that has made the market volatile.
At the moment there is plenty of domestic capacity; capacity utilization numbers are still in the low 60s. A preferred rate of utilization would be between 80% and 85%, and until it is over 85%, there is no shortage.