Peter Marcus of World Steel Dynamics: Steel prices to recover in 2020

Wednesday, 30 October 2019 15:56:04 (GMT+3)   |   Brescia

Steel prices should recover as soon as early next year, and especially between March and April, stated Peter Marcus, managing partner and founder of World Steel Dynamics during the European Steel Conference 2019 taking place in Milan at a difficult time for the steel market amid low demand (largely due to the slowdown in the automotive sector), global production overcapacity, increased imports and high costs which are the main factors causing European steel producers to struggle. In addition to Peter Marcus, the keynote speakers include Mario Caldonazzo, CEO of Italian group Arvedi, Sanjay Jayram, executive vice president of India-based JSW Steel, Antonio Marcegaglia, CEO of Italian group Marcegaglia, and Sanjeev Gupta, CEO of Liberty Steel Group.

In this speech, Peter Marcus attributed the likely recovery of steel prices next year to inflation rates, a possible easing of trade tensions and an increase in environmental costs. This recovery, he said, should be led by Europe and above all the US thanks to the competitive advantage represented by shale gas. Speaking of overcapacity, he remarked that the situation should be more stable thanks to a slowdown in China's production due to environmental restrictions imposed by the Chinese government.

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