Steel prices in America fell in July by 4%

According to Meps International LTD (Britain), North American steel prices fell in July an average of 4% compared to the previous month. According to this advisory firm, the fall occurred due to weak demand and intensified fears of the "second wave" of the recession. The North American MEPS price index in carbon steel products decreased from $ 790 per t in June to $ 760 per t in July.

“In the flat rental sector, plants are desperately fighting for orders and make discounts to consumers purchasing large batches,” the Meps report said. - In the short term, we predict production reductions to create a balance between demand and supply. And several plants are already closing in August for long "holidays".

Meps International LTD notes that in the sector of long-sized products, consumption of steel was at a “very low” level, emphasizing that the June performance indicator in the construction industry of the United States has fallen to a 14-year minimum.

“When we look at the American market, we do not see anything positive. He does not look like that. There is a fear of repeating the “failure” by the analyst Meps International Ltd Kay Ayub. She also mentioned that stimulation programs are completed and talk about their renewal is not conducted.

According to the analyst’s forecasts, the steel industry in North America will be sluggish for the period remaining until the end of the year, since consumers are unlikely to begin to replenish its reserves long before the New Year.