Fed will interpret as "dove-ish!".
The recent North American steel price recovery has proved short-lived as regional values continued their downward trajectory, this month.
The sustainability of the recent price rises, in the US, hinged upon supply-side considerations. The introduction of import barriers on a number of flat products initially supported the domestic producers.
However, steel imports, into the US, are steadily rising, month-by-month, from countries not covered by the trade cases. The restrictions are unlikely to be strong enough to reverse the negative price tendency that exists currently.