US ratings agency Fitch Solutions announced that due to imbalances in supply and demand, the forecast short-term global steel price for the first half of 2021 has been raised to USD 800 per tonne from the previous forecast of USD 660 per tonne.
In the second half of the year, production will be stable; however, demand will increase, so prices were not expected to fall significantly.
In 2022, local steel demand in China will slow down and steel prices in China are expected to fall, leading to a decline in world average steel prices.
The recent rise in world steel prices was temporary. After a continuous resumption of steel production, steel prices will decline at the end of the first quarter of this year.
Fitch Solutions raised its forecast for world steel prices
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Azovpromstal® 27 May 2021 г. 12:39 |
