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AP
Graphically Speaking
Melting Point
Slackening demand has forced steel exporters to cut prices.
COMMENTS PRINT

The steel industry continues to be tempered by weak global demand. The World Steel Association expects the slowdown in China to restrict steel demand growth to 2% globally in the new year. China’s apparent steel use is likely to grow by 0.8% to reach 754 mt in 2015. Latin America is also displaying muted demand, while geopolitical tensions have taken their toll on steel demand in the CIS region. Steel use in the developed economies will slow down from 4% in 2014 to 1.7% in 2015, while that in developing economies (excluding China) will grow from 1.7% in 2014 to 4.7% in 2015. Not surprising that slackening demand has forced steel exporters to cut prices, with CIS export prices falling to $482/tonne from close to a high of $600/tonne in March 2013. In other words, steel companies have nothing to cheer about in 2015.

COMMENTS PRINT
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