The steel market is suffering losses

Over the past week, shares in steel trading in the world's leading metallurgical countries fell by an average of $ 2.5.

In China, the import of lump iron ore to South Africa increased by $ 1, and now stands at $ 98. On the other hand, exports remained unchanged, which differs from last week, when it lost its position by an average of 5.5 in the production of 2.5 mm hot-rolled coils.

India has lost its position in exports of hot rolled coils by $ 10 and now stands at $ 492 per 2.5 mm coil. Imports remained practically unchanged, and lost shredded scrap for Europe by 10%.

Imports and exports remained unchanged only for the countries of the Middle East and Africa.

This all speaks of the upcoming changes to the quota in the EU from February 4 this year. Which will be + 5% of the average annual production from 2015 - 2017, for countries such as China and Japan. For the countries of the Middle East, they will introduce quarterly quotas, which will be equal to 0.25 of the annual turnover. That will allow not only to raise the level of production, but also to reduce unnecessary supplies.