Steel prices increased again this year, after the drop in prices at the end of 2016 and beginning of 2017. Since then, prices have held steady with uncertainty regarding the overall steel market.
Chinese steel demand has showed strength during the early part of Q4, which has supported higher steel prices. Buying organizations will want to keep in mind that Chinese steel demand remains the strongest on a global basis, accounting for an increase of more than 10.9% from 2000 to 2016, according to World Steel Dynamics. The Chinese have exported record tonnage in 2017. Duties and Chinese economic stimulus have supported steel demand. However, World Steel Dynamics has forecasted weaker demand for 2018. While Chinese economic stimulus has helped the recovery of that domestic steel market, spurring additional steel demand has become more challenging. For evy stimulus measure deployed to spur investment, less steel is being consumed. Therefore, one of the ways that China can maintain steel growth is for its producer community to become more profitable.
News from platts.com world steel reviews
Edit by Ms. Vicky Wang of KRM/BSW
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