Asian prices crash as they face multiple headwinds

摘要

Finished steel prices in Asia excl.China continued to fall this month and are down by almost $150 /t m/m in July. After initially stabilising in early June, prices fell through the middle of the month and early July on a bearish market sentiment in the region, lower raw material costs, and competitive offers. Though steel margins continued to increase as we predicted, steel prices did not increase as expected due to a fall in raw material costs. Both regional import prices and Japanese export decreased by an average of 13 m/m.