Record steel prices inject life into long-suffering industry

FILE PHOTO: An employee monitors molten iron being poured into a container at a steel plant in Hefei, Anhui province

THERE'S rarely been a better time to be in the steel business.

Prices have boomed worldwide this year, smashing record after record. Roaring industrial demand is propelling those rallies, with plants straining to boost supply after lying dormant during the pandemic. On top of that, powerhouses China and Russia are trying to limit exports to help other industries at home.