WSD: HRC prices to fall further

Speaking at the Steel Success Strategies meeting in New York, Peter Markus and Karlis Kirsis, two managing partners of the World Steel Dynamics (WSD), predicted that hot rolled coil export prices will fall further, escalating production cutbacks, while lower raw material prices and reduced steel mill margins are expected to be seen this year.
 
Markus said that shredded scrap prices are expected to go down further by 25-30 percent, while coking coal prices are expected to decline to $180-190/mt and iron ore prices to fall to $100-120/mt.
 
WSD also states that Indian steel to pounce on the world market as the Indian industry is well positioned to remain among the lowest costs well into the future.