Covid-19 vs 2015 financial crisis - how much further can steel prices fall?

摘要

The fate of the steel world continues to hang in the balance: Numerous scrapyards have stopped operations, blast furnaces around the world have stopped and aggressive offers by traders for Russian and Indian supply have pushed prices down further. In the Asia hot-rolled coil market, for example, Russian and Indian material is expected to remain the lowest-priced supply in the spot market for the foreseeable future due to their weak domestic currencies, which has allowed exporters to offload cargoes at lower prices.