Steel Going Into Biden’s Infrastructure Plan Reaches Record

A key steel product used in construction and automobiles reached a record Monday as U.S. President Joe Biden pushes ahead with his infrastructure spending plans.

Hot-rolled coil for July delivery rose 0.7% to $1,800 a short ton in New York, an all-time high, extending gains since the president secured a $579 billion bipartisan infrastructure deal on Thursday. Prices have more than tripled in a year.