MEPS International notes that despite the fact that the Chinese authorities have announced a plan to reduce capacity by 100 - 150 million tons by 2020, steel production in the country continues to grow. In the first three quarters of this year, steel output increased by 0.4 percent. However, in September it grew by 3.9 percent.
MEPS believes that the introduction of anti-dumping duties in the United States and the European Union will only be able to maintain the current price level in the short term. Nevertheless, some manufacturers are trying not only to keep the prices reached in the first half of the year, but even to raise them, as evidenced by the prices announced in the fourth quarter by some US and European manufacturers.
At best, the continued market demand for steel could slow down the downtrend in the short term, according to MEPS analysts. The only real factor that can stop the downward trend in steel product prices is the actual decline in production capacity.
Steel prices will remain at current levels in the coming months - MEPS
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Azovpromstal® 2 November 2016 г. 10:57 |
