SPOTLIGHT ON STEEL

摘要

According to many national papers, the world steel market appears to be spiralling out of control. Prices for the billet steel used in building have doubled since the credit crunch began last August, while hot-rolled coil steel, which is used in other areas of construction, has increased in price by 40% since Christmas. However, lead times in the UX will be affected only if it is availability that is driving up prices. At first glance the price increases appear not to be demand-driven, given that recessions are reported in the world's two largest economies, America and Japan, along with economic downturns in New Zealand and a number of European countries, including Britain. It would be easy to jump to the conclusion that the rising price is being caused only by the increasing cost of steelmaking's raw materials, a view supported by the 65% rise in the cost of iron ore and a 40% rise in coking coal prices since the beginning of the year.