Calculation of ‘Event Probability’ and ‘Chance of Rise’ using the last ten years’ data After moving 9% or more over a five-day period, the stock rose in the next five days on 47% of the occasions. The big reopening of the Chinese economy after over two years is expected to result in rising demand, supporting global steel prices. The Federal Reserve has also moderated its pace of interest rate hikes, with inflation easing a bit and this has also helped commodity stocks to an extent.