According to Citibank's forecast, world prices for rolled steel will rise until the middle of next year. The world average price has quadrupled since the end of last year.
Citibank said this is a reflection that the supply situation is almost nervous and demand will face strong backlash. They believed there were still many obstacles in the supply chain, and the global economy gradually reversed, demand increased even more so that the price of fossil fuels would rise above the official level next year.
Ratings agency Moody's said the imbalance between global steel supply and demand will stabilize in 2022 and steel prices will fall from this year's highs to historically normal levels.
Moody's said that as global vaccination levels rise, the epidemic is expected to weaken and governments will abandon stimulus policies. Eventually, the market will bounce back and overall demand for steel may decline.
In addition, Moody's said that the price of iron ore in 2022 will be closer to the price in 2016-2019 at $ 70-80 per tonne.
Subscribe to news
Metallurgy news
- 12 April 2024
09:52 EU steel demand to recover in 2025 - Worldsteel - 05 April 2024
12:40 Liberty's European division is headquartered in Vienna - 01 April 2024
12:51 The number of electric vehicles in Kazakhstan has increased ninefold over the year 12:37 Liberty Czestochowa is preparing to resume production - 27 March 2024
11:38 Ferrexpo faced restrictions on the corporate rights of Ukrainian subsidiaries - 24 March 2024
12:16 Kazakhstan opened a national pavilion at a mining conference in Toronto 11:53 Russian coal imports to China plummet due to import taxes - 18 March 2024
14:06 Voestalpine to sell German special steel division
Publications
27.04 Moving a refrigerator according to all the rules 27.04 Household dehumidifiers in the Osushiteli online store 27.04 High-quality steel reinforcement at an affordable price from the company SAVVATS 25.04 Where to buy a power bank wholesale in Ukraine 23.04 Finoko Company: Global Reporting System