FGM’S ECONOMIST DANIEL DODERER FEATURED IN SMU

The steel market is rallying, with April futures up over 8% for the second week to $947, driven by the reinstated 25% U.S. steel tariff and domestic mill price hikes. The shift from contango to backwardation signals rising near-term demand, with a likely price floor at $830. While liquidity is surging and 2025 demand looks strong, the rally’s peak remains uncertain.