The global sheet market remains under the influence of two opposing factors. On the one hand, the rising costs of metallurgical companies are forcing them to raise prices. Foreign sources interpreted this trend as being observed especially in Turkey, which allowed Russian metallurgists to revise their prices upwards. The rise in prices in China should be facilitated by the decline in rolled steel production caused by a new deterioration in energy supply.
On the other hand, weak demand prevents prices from rising. For example, domestic rental prices in China have been falling slowly in recent days. East Asian countries remain stable. Indian companies that tried to raise prices at the beginning of October retreated to their previous positions. While there has been no improvement in the European market so far, the American market has started to decline.
Will flat steel prices go down?
It seems that flat steel prices will not drop any time soon, except for the United States. Still, the high energy cost and production issues in China are strong arguments. However, significant growth is currently unlikely. The global economy is currently unstable and unpredictable, so consumers will be cautious.
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