Long steel market players from around the world gathered in St. Petersburg, Russia September 25-27 for the SteelOrbis & IREPAS Conference and agreed that aside from a few regional exceptions, the outlook for steel around the globe is surprisingly favorable.
What a summer! While heat waves blasted most of the US, demand for steel, unfortunately, remained lukewarm, and even the steel sector that is usually lively during the annual summer doldrums—scrap—followed a curious neutral trend for most grades and regions during the hot months.
Mr. Bull: Once again you must have been very satisfied with recent events that, on the very surface only, seemed to support your dire outlook. It appears that the global economic recovery in general is taking a breather and, specifically, most advanced economies are struggling once again. Growth in the US is faltering and the […]
The trade flows of few steel products have been affected as much by the impact of US trade laws as supply and demand in the market.
Demand, or a lack thereof, finally caught up with reality and HRC prices have crashed down to earth, dropping about $160/mt in the process. A lot of the earlier, pent-up demand happened because of “restocking” inventory. Guess what? Latest surveys of steel consumers show a high inventory level.
South America’s top steelmakers strategize for success. The South American steel industry is at a turning point. After surviving the worldwide economic downturn relatively unscathed, it has proven itself not only strong on the domestic front, but a growing powerhouse on the global stage.
ecent events must have reinforced your doomsday scenario, Mr. Gloom. First we had (and still have) turmoil in the Middle East, which caused crude oil prices to skyrocket yet again and slowly approach 2008 levels. The massive earthquake/tsunami in Japan has put the world’s third largest economy on ice for the time being.
Globalization: it’s a trend that’s celebrated and despised, welcomed and protested, anticipated and ignored. But despite the wide range of opinions on the subject, most can agree that globalization is very much a new world order, a further step in the evolution of human civilization.